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

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Craig Erlam

Craig Erlam

Senior Market Analyst - UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam