UK sees biggest fall in consumer confidence for 26 years after Brexit vote

Growing worries about the economic outlook have dented the confidence of UK households and manufacturers, according to the latest reports to suggest the Brexit vote result will slow the economy.

A poll by market researchers GfK recorded the biggest slide in consumer confidence for more than 26 years in July. The group said people were on average gloomier about their own finances, the broader economy and whether now was a good time to make big purchases such as furniture and household appliances.

A separate survey of manufacturing companies, also published on Friday, paints a similar picture. Manufacturers’ organisation EEF said that the sector’s recovery was under threat as its poll revealed business confidence had fallen in every region of England and Wales.

Read more here in an article published in The Guardian today.