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The Independent UK

Business

Holly Williams

Consumer belt-tightening takes toll on UK firms, report reveals

United Kingdom EYParthenon Jo Robinson

Nearly a fifth of UK-listed firms alerting over profits have flagged the impact of weak consumer confidence, research shows (Alamy/PA) - (Alamy/PA)

Nearly a fifth of UK-listed firms alerting over profits have flagged the impact of weak consumer confidence, reaching the highest level for three years, research has revealed.

The latest EY-Parthenon report showed that of the 64 profit warnings between July and September, 19% cited falling consumer sentiment – up sharply from 6% a year earlier and the highest since 2022, at the height of the cost-of-living crisis.

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