GfK: UK consumers become more cautious as economic concerns escalate

The UK consumer confidence index fell to -19 in September, lower than expected as market concerns over possible tax increases in Treasury Secretary Rachel Reeves' November budget. GfK's survey showed that all five consumer confidence indexes fell, and the economic outlook sentiment index plummeted from -11 in June last year to -32. The budget is expected to include tax increases to achieve fiscal goals, which could further hit public morale.