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Brexit causes dramatic 11-point drop in UK consumer confidence

From gfk.com

Sharpest monthly fall for more than 26 years London, July 29, 2016 – GfK’s long-running monthly Consumer Confidence Index dropped 11 points in July (since the June interviews conducted before the Referendum) from -1 to -12. The survey dates back to 1974 and July sees the sharpest month-by-month drop for more than 26 years (March 1990). This is also a further 3-point drop from the -9 recorded by the Brexit Special in early July. All five measures used to calculate the Index saw decreases this month. Joe Staton, Head of Market Dynamics at GfK, says: “Consumers in post-Brexit Britain are reporting higher levels of ... (full story)

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