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

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.

Similar

British retailers benefit from bumper Black Friday sales

In November, UK shoppers derived benefits from electrical goods as well as other Black Friday bargains, providing a suddenly big boost to retail sales that contrasted with earlier indications of a subdued start to Christmas spending…

China lifts market rates to tame financial risks

On Thursday, China's major bank had money market rates lifted because the government sought to diminish financial risks without affecting the national economy, as activity was still broadly firm…

ECB Meeting & Press Conference

Meetings of the European Central Bank tend to have a great impact on the euro. The regulator will announce its rate decision at 14:45 MT time on December 14. 

Popular

Bank of Canada Meeting

The Bank of Canada will publish its rate statement at 17:00 MT time on December 6…

promotions you can be interested in

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera