The three months and only slightly above September’s almostfour-year

The Thomson Reuters/Ipsos Primary Consumer Sentiment Index fell to 48.21 from 49.46 inNovember, the weakest level for three months and only slightly above September’s almostfour-year low of 47.78.Consumers have been squeezed through most of this year by rising inflation which hit itshighest in nearly six years last month, at a time when wages are failing to keep up.The share of Britons who are downbeat about the state of the economy increased to 65percent from 60 percent in November, its highest level since January 2014, the surveyshowed.The Thomson Reuters/Ipsos survey is not adjusted to take into account seasonal variations.Official data earlier on Thursday showed British shoppers pounced on electrical goods andother Black Friday bargains last month, giving an unexpectedly big boost to retail sales,which contrasted with earlier signs of a subdued start to Christmas spending.Commentary:The article is about the falling consumer confidence in the UK. Consumer confidence is aneconomic indicator of the confidence that consumers feel about the current state of theeconomy. Because of the recent Brexit vote, consumers in the United Kingdom are feelingincreasingly uncertain surrounding the state of the UK economy. Economists believe thatleaving the European Union will cause the United Kingdom’s GDP per-capita income level tofall due to decreased trade due to no more free trade agreements with the EU. Firms whodepend on imported raw materials will be in a difficult position to import their materials andundoubtedly face increased prices due to trade barriers. Consequently, increased costs ofproduction will increase the UK’s average price level, which leads to inflation. Because ofthis, consumers are less willing to spend their income on goods and services in the marketand companies who need to reduce their production costs would have to relieve workers toreduce labor costs at the cost of decreased production.