This downturn in confidence shows just how uncertain times have become for everyone in the UK.
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Recent findings from research firm Ipsos MORI reveal a historic dip in British confidence regarding the nation’s economic future over the next 12 months. The survey indicates that skepticism is permeating both the business community and consumers, highlighting a significant shift towards pessimism.
The study shows that 75% of Britons expect the economy to deteriorate within the coming year – an increase of 8 percentage points since March. In contrast, a mere 7% foresee any economic improvement, while 13% believe the current conditions will persist. This negative sentiment, quantified at a score of 68, is the lowest recorded since Ipsos MORI began data collection in 1978.
Below is a summary of the key observations from the survey:
1. A substantial 75% of respondents predict an economic downturn in the next 12 months.
2. Only 7% are optimistic about an economic recovery.
3. A small segment of 13% anticipates stability, reflecting the overwhelming pessimism among the public.
Several factors contribute to the growing unease about the British economy:
- Recent U.S. tariff implementations have amplified concerns about the global trade landscape.
- Domestic economic conditions are echoing the challenges seen during past economic downturns.
- Historical crises such as the recession in the 1980s, the financial turmoil of 2008, and the cost-of-living crisis linked to the COVID-19 pandemic have left a lasting impact on public sentiment.
This marked decline in confidence is not simply a transient trend but likely reflects deeper structural shifts in the economy. The prevailing negative outlook is shaping decision-making processes in both the business and consumer sectors. As such, Ipsos MORI’s survey serves as a critical indicator of market sentiment and underscores the importance of closely monitoring economic developments.
