What is a ‘vibecession’ and is the UK experiencing one?

The UK is suffering from a “vibecession” ahead of the Budget, according to PwC, with household sentiment deteriorating despite improving economic fundamentals. The firm’s latest consumer sentiment survey dipped to -8 at the end of September, its lowest point this year. The survey briefly reached neutral in July, meaning the quarterly fall in confidence was the largest since spring 2022. The deterioration was led by over 65s, who became the least optimistic age group for the first time since 2016. This likely reflects changes to the winter fuel allowance, announced back in July, as well as rumoured changes to tax reliefs on pension contributions. Get more on the story 👇 https://www.cityam.com/uk-suffering-from-vibecession-ahead-of-the-budget-pwc-says Get more of City AM 👇 🌐 http://www.cityam.com X(formerly Twitter): http://twitter.com/CityAM Facebook: http://www.facebook.com/cityam Instagram: http://www.instagram.com/city_am LinkedIn: www.linkedin.com/company/cityam