Negative sentiment rises in UK households
But views on the longerterm outlook are far more nuanced, although still negative on balance, Markit reports.
Of those expressing a view, some 55% of survey participants see the UK’s economic prospects as having deteriorated following the referendum decision to leave the EU, outnumbering the 12% that see prospects as having improved by almost five-to-one (a resulting "net balance" of those seeing prospects having got better minus those thinking prospects have got worse of -42.9%).
However, just 42% of individuals see prospects as having deteriorated over a ten-year horizon, only
slightly more than the 39% who perceive th outlook as having improved as a result of the Brexit vote (a resulting "net balance" of just -3.5%).
The survey results therefore indicate that, on balance, respondents expect the UK economy to be adversely affected by the decision to leave the EU in the short run, but for the damage to lessen considerably in future years.
Negative sentiment rises with wealth, but falls with age. The poorest and the oldest are therefore the most upbeat about post-Brexit prospects for the UK economy. Very mixed results are meanwhile seen by region and by sector of employment. ■