Brits Save More And Cut Spending Amid Fallout From The Iran War
Brits cut back on spending and non-league football set for a YouTube first
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Morning, I’m Louise Moon from Bloomberg UK’s breaking news team, bringing you up to speed on today’s top business stories.
Brits are holding onto their purse strings. And can you blame them?
People are saving more and splashing out less, GfK found, as they try ride out the economic impact of the Iran war. GfK’s gauge of major purchase plans plunged to the lowest since April last year (remember the US trade war and hiked bills?).
That follows similar findings from BRC yesterday, reinforcing the perception that economic concerns are starting to ripple through the UK economy.