Heat wave sparks consumer dip

Consumer confidence in the UK is expected to slow even further on the back of higher national insurance contributions as well as the bout of hot weather in the country. But it is not a completely gloomy story - economists are not predicting a deflationary situation in the UK and a recovery is expected in the second half of the year. Errol Francis, UK equity fund manager at Barings, says: "We would probably expect UK consumer confidence not to grow as much as the last few years. Consumers already have a high level of debt, but both interest rates and unemployment are at low levels....