Part 8/9:
Meanwhile, in the UK, consumer confidence took a hit in April, plummeting to its lowest level in over a year. This downturn can be attributed to rising costs and an overarching anxiety regarding the implications of Trump's trade policy on the UK economy. The GFK consumer confidence index fell four points to -23, signifying households' growing distress over increases in everyday expenses across various sectors.
Warnings from the Bank of England highlight the risks posed by potential inflation from U.S. tariffs on British goods, which could further constrain economic growth. Data indicates a decline in private sector activity, raising concerns about household spending—a fundamental driver of economic momentum in the UK.