Fewer Britons visit shops after EU referendum – BRC

The number of shoppers heading to British high streets and retail centres fell at the fastest pace in more than two years in June, with the weeks around the country’s vote to leave the EU hit particularly hard, a survey found.

Retail footfall across Britain was 2.8 percent lower than a year earlier in the five weeks from May 29 to July 2. This was the sharpest decline since February 2014 and down from a 0.3 percent increase in May, a survey from the British Retail Consortium (BRC) showed on Monday.

“The results are shaped by a political and economic storm against a backdrop of rain downpours and generally inclement weather throughout the whole month,” said Diane Wehrle, marketing director at Springboard, a retail data company that sponsors the survey.

Reuters

Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.