British consumer confidence increased in July, the month following the Brexit vote, according to the latest Consumer Confidence Tracker by Verdict Retail.
Overall views on the UK’s economic outlook strengthened by 10.9 percentage points in July, the study found, however London respondents recorded a more negative view of the economy in July compared to a month earlier.
The survey of 2,000 UK consumers shows that future sentiment has recovered half of its initial drop in July, following the Brexit vote in June.
“While the Brexit impact will linger for the foreseeable future, it is encouraging to see that consumers are relatively more positive than last month,” said Zoe Mills, Analyst at Verdict Retail.
“The swift appointment of a new Prime Minister is likely to have helped eliminate some of the uncertainty that was felt in the month prior. However, consumer confidence is still some way from reaching pre-Brexit levels. ”
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.
