Tuesday, August 30, 2016

What Brexit blues? Bars and restaurants boom as consumers give a vote of confidence in UK's future...

Britons are confounding Brexit doom-mongers by eating out in an apparent vote of confidence in the country's prospects.

A report from the CBI has indicated that the services industry - which accounts for 80 per cent of the economy - grew over the past three months.

Restaurants, bars and hotels were among the biggest beneficiaries of the boom.

Separate research from Lloyds Bank suggested consumers are more confident about their own financial position than at any time since 2011.

The monthly Lloyds barometer found nearly seven in ten people believed that their personal affairs were 'excellent', 'very good' or 'somewhat good'.

Robin Bulloch, managing director of Lloyds Bank, said: 'It's too early to tell if there will be any impacts of leaving the EU, but for now at least consumers seem intent on putting any fears of a wider economic slowdown to one side and carrying on spending.'

The surveys are among the latest signs that the impact of the historic Brexit vote may be less severe than had been predicted. Full story...

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