Since the UK voted to leave the EU on 23rd June there’s been a lot of speculation about what consumers might think about its impact on the economy and their economic situation, but little robust data to provide solid evidence. Our one-off Brexit Special changes that.
Questioned online in the immediate aftermath of the decision between 30th June and 5th July, 2002 consumers told us how they felt about the economy in general and the outlook for the next 12 months.
Incorporating the same measures we use each month in the Consumer Confidence Barometer (CCB), we can assess – rather than guess - consumer confidence right now. The results show that confidence has dived, with the core Index falling 8 points to-9, and that all of the key measures used to calculate the Index have fallen. For context, this long-running survey dates back to 1974, and there has not been a sharper drop than this for 21 years (December 1994).
Our infographic puts this data in perspective, using a map of the UK to show the range of confidence by region, and how age, income level and gender impact consumers’ sentiment. We show the different confidence of Remainers versus Leavers.
So if you want to understand how Brexit might influence how your customers feel and behave, the statistics from the CCB can help put you in the picture.
Subscribe to GfK Insights