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UK consumer confidence nosedives in August: Bank of America

FILE PHOTO: Shoppers crossing the road in Oxford Street, London

LONDON (Reuters) - British consumer confidence fell in August by the most since the onset of the COVID-19 pandemic and reached its lowest level since November 2020, a Bank of America survey showed on Wednesday.

"Crucially for the economic outlook, consumers are more pessimistic about their personal finances than in 2020, unemployment expectations are rising fast, and spending dropping," said BofA economist Robert Wood.

(Reporting by Andy Bruce; editing by William James)