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In July, British shoppers consumption not affected by the refund the referendum

by:Deyuan      2020-12-23
Visa said brush calorie of consumption, according to British shoppers from the vote on withdrawal from the eu bring economic uncertainty, spending unaffected in July. Spending in July compared with July last year increased by 1. Up 0 6%, more than in June this year. The biggest 9%, growth for three months.

seasonal adjustment spending shot increased by 1. 1%, sweep a 0 drop in June. 5% of the decline, become the strongest rise since January.

but Visa also warned that the monthly data is not completely trusted, if in 3 months period, overall consumer spending is still cautious mood.

Visa for the UK and Ireland managing director KevinJenkins said: & other; In July, according to data from the refund the referendum despite uncertainty, the UK consumer spending is still keep rising, but belong to low growth in the past two years. ”

however not all statistical methods are shown in the referendum since consumer confidence remains strong.

the GfK after a referendum on June 23, specifically for the UK back the investigation indicates that consumer confidence in the biggest downturn since 1994, it is also one of the first after the referendum showed negative influence on the economic data.

then, in July the readings also showed that the index by 9 to 12, since 1990 the biggest monthly decline in consumer confidence.

the European commission's British consumer confidence standards have also suffered in July since January 1991, the biggest tumbled, fell to its lowest level since June 2013.

Market data showed the UK services sector is shrinking at the fastest pace since the financial crisis. Month-on-month drop in July and the largest since records began in July 1996.

services accounted for 80% of UK GDP, but it is not the only fall area. Statistical construction by Markit PMI also slowed in at the fastest pace since 2009, the slowdown in manufacturing steps is the largest since 2013. Overall, the British economy as a whole was back to the great influence of the referendum.
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