British consumer confidence goes down after PM May's election flop

The UK’s quite messy election outcome as well as a weakening of the housing market have provoked a steep loss of confidence among consumers, thus leaving Britain dependent on exports just to avert a recession. That’s what Tuesday’s poll told.

An index of consumer confidence issued by polling company YouGov rebounded to the levels last observed after the previous year's shock referendum verdict to break up with the European Union.

Prime Minister Theresa May's inability to secure a parliamentary majority in the June 8 election, increasing the prospect of an unsteady government, applied pressure on consumers already feeling the strain of higher inflation, not to mention poor wage surge, as YouGov states.

Obviously, YouGov's conclusions were built around the data collected from June 9 to June 21. This online survey company conducts approximately 6,000 online polls a month.

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