London, 17 August - The latest TNS consumer confidence index shows that economic sentiment is down since the EU Referendum. A third of people (33%) think the economy has worsened when compared with twelve months ago - this is 11 points up on the last time this question was asked in April 2016 (22%).
The survey of 1,199 adults in Great Britain also showed an increase in the number expecting the economy to be doing worse in a year’s time – a seven point increase from 22% four months ago to 29% in the latest dataset.
The latest poll shows that fewer workers are anticipating a pay rise in the next twelve months – down six points to 18% from 24% in April 2016.
There has also been a seven point increase in the number expecting their income to decrease amongst those that are not in work, up to 23% from 16% in April 2016.
However, despite consumer confidence in the economy declining across several indicators, more people now feel the government’s handling of the economy over the past twelve months has been good (up to 27% from 23%). The number rating the government’s performance as ‘poor’ is down seven points from 34% in April to 27% in August.
Commenting on the poll, Luke Taylor, Head of Social and Political Attitudes at TNS BMRB said, “This latest dataset suggests that confidence in the economy is back down at levels last seen in 2011/2012 when the country was in recession.
“While consumer confidence has declined in the past four months, there has been a sharp decline in the number rating the government’s handling of the economy as ‘poor’. Time will tell if this is due to a honeymoon effect for the new Prime Minister, or an indication that people think the economy is governed by factors outside the government’s direct control.”
A sample of 1,199 adults in Great Britain was interviewed between the 5th and 8th August 2016. All interviews were conducted as online self-completion, using the Lightspeed GMI access panel as the sample source.
The data was weighted to match population totals for age, sex, working status, 2015 General Election voting patterns, education, region, and likelihood to vote in the next General Election.
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