Consumers and the Economic Outlook - UK - June 2019
“The closer we got to the planned Brexit Day, the more worried people became about the impact it’d have on the UK’s economy. With the delay to Brexit, these concerns seem to have melted away. People are far more relaxed about what Brexit will mean for both their own finances and for the broader economy.
“What’s really striking, though, is how strong consumer confidence is. Even when people were dealing with pre-Brexit jitters in March, they were still confident about their own financial situation. Now that Brexit has been put on hold until October, confidence has risen even further.
Short-term, this is all positive for anyone operating in consumer-facing markets. There are few signs that people are cutting expenditure. But there is a fine line between confidence and complacency. There is a real danger that too few consumers have the financial resilience that’d let them negotiate even a relative short period of economic disruption.”
– Toby Clark, Director of Research EMEA
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