Shoppers shunning Brexit fears finds consumer study

UK consumer confidence improved in August, according to the long-running GfK Consumer Confidence Index.

According to the Index, confidence improved by three points to -7 during the month. GfK’s analysis suggests that consumers are tiring of the ongoing debate over Brexit.

“Consumers are no doubt aware of the incessant Brexit noise, the core debate about whether ‘no deal is better than a bad deal’, the accompanying threats, warnings and uncertainties, the wild hopes and dark fears, and the daily ups and downs. But are consumers putting their hands over their ears and quietly saying: let’s just wait-and-see? We are just months away from the Brexit crunch but there is no sign (yet) of any crash in consumer confidence,” says GfK client strategy director Joe Staton.

“Yes, the core index continues to muddle along in negative territory, but Armageddon seems a distant prospect… and we are well above the worrying -39 we saw in July 2008. Are consumers being more sensible than the pundits? Have they developed an immunity to the Brexit babble?”

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