Consumer expectations for the economy over the next three months fell from minus 28 to minus 34 this month, according to the BRC and Opinium.
Consumer confidence in the economy has faltered following four months of growth, as experts warn that the upcoming Budget must provide stability for struggling households.
Economic expectations for the next three months dropped to minus 34 this month, a decline from the minus 28 recorded in August, according to the British Retail Consortium (BRC)-Opinium Consumer Sentiment Monitor.
Sentiment regarding personal finances also saw a decline, slipping to minus 15 from the minus nine reported the previous month.
BRC chief executive Helen Dickinson said: “Consumer confidence in the economy stumbled after four months of improvement, with a similar trend for sentiment around personal finances.
“This decline was much sharper among women and with households bracing for a sharp rise in energy costs this winter, and bills rising faster than shop prices, it is little surprise that expectations of retail spending fell, even as overall spending plateaued.
“With the Budget looming large, business rates, allowing retailers to focus on holding prices down.
“He should start by freezing the business rates multiplier, preventing yet another burdensome tax increase.”
Originally reported by www.lbc.co.uk. This article has been independently rewritten for republication.
