The consumer confidence of UK for this month declined while the British currency weakened. The prices rose and wage growth dwindled which influenced the Britain’s economic powerhouse. The monthly household sentiment of GfK had a dipped and stayed below zero for the 10th month. The level for major purchases also decreased which implied that British citizens probably controlled their expenditures. Another assessment by YouGov coupled with the Centre for Economics and Business Research is the job security index which further decline reaching its lowest result three years ago. After the Brexit referendum, the private consumption as well as the services industry have compelled the economy, however, it set out some signs of economic strain. During the EU exit, the inflation increased as the energy cost climb higher together with the 16 percent cut in the sterling pound. Furthermore, the growth of credit had a steep decline in December whilst retail sales inched up at its slowest pace since January 2014.
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