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British shoppers cut their spending sharply

British shoppers cut their spending sharply | 24 October 2022

24 October 2022, GBP/USD

British shoppers cut their spending sharply

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British finance minister Jeremy Hunt reiterated that the government will do "whatever is necessary to get drive down debt in the medium term," responding to the latest data on public sector finances. "We will do whatever is necessary to get drive down debt in the medium term and to ensure that taxpayers’ money is well spent, putting the public finances on a sustainable path as we grow the economy," Hunt said in a statement. British shoppers cut their spending sharply last month and their confidence is close to record lows, underscoring the challenge facing the next prime minister who must also take painful measures to slow fast-rising public borrowing. Over the three months to September, sales were down 2.0%, the biggest fall since the three months to September 2021.

Investment idea: range 1.1300 - 1.1400.

David Johnson
Analyst of «FreshForex» company
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