NEWS26 August 2016

UK consumer confidence bounces back post Brexit

News Trends UK

UK — The YouGov/ CEBR (Centre for Economics and Business Research) Consumer Confidence Index surged from 106.6 in July to 109.8 in August; the largest rise since February 2013. 

UK bunting crop

This means that the index has recovered around half of what was lost following the UK’s vote to leave the European Union. 

Any reading above 100 represents optimism. 

"This month’s improvement in consumer confidence follows positive news from other areas of the economy and slightly punctures the arguments of those who predicted immediate economic Armageddon following a Brexit vote," said Scott Corfe, Centre for Economics and Business Research director.

"However, this could easily change next year as the weakness of sterling pushes up the cost of imports. 2017 could be the year that consumers stumble."