UK consumers to cut back in 2024, reviving recession concerns

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UK consumers are increasingly worried about their financial security and holding tighter to their purse-strings heading into 2024, reviving concerns that the economy could tip into a recession.

While inflation has now fallen or remained steady for nine consecutive months, 41% of consumers say they’re feeling less financially secure than at the end of 2022, according to a survey from KPMG.

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