UK Consumer Confidence Slips on Personal Finance and Economy Concerns

UK consumer confidence has slipped from a nine month high as Britons became more concerned over the state of their personal finances and the economy overall.

According to benchmark GfK research, the consumer confidence index dipped slightly more than expected to -1 in September.

In August the reading stood at +1, which was the same as June's nine-year high.

"Many people are not themselves feeling any better off despite the growth in GDP, and this may be tempering the impact of positive media coverage of the economy," said Nick Moon, GfK's managing director for social research.

The Bank of England forecasts the economy to grow by 3.5% this year and interest rates are set to rise in the first quarter of 2015.