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Global output faces disruptions

Global output faces disruptions

UK consumer morale wilts under cost-of-living crisis

  • #Oil prices rose to a near three-year high and headed for a third straight week of gains, supported by global output disruptions and inventory draws
  • Growing worries over #energy bills, food costs and tax hikes prompted a hefty drop in British consumer confidence this month as people became more downbeat about the #economic outlook
  • The #dollar wallowed near its lowest level in a week versus major peers as improved risk sentiment wiped out recent gains amid easing concerns about contagion from a potential China #Evergrande Group default

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