Britain’s messy election outcome and a weakening of the housing market have caused a sharp of loss of confidence among consumers, leaving the country dependent on exports to avoid a recession, according to a survey published on Tuesday.
An index of consumer confidence produced by polling firm YouGov fell back to just above levels last seen just after last year’s shock referendum decision to leave the European Union.
“Our preliminary assessment is that economic growth will fall sharply over the coming months and the country will only be saved from recession by strong international trade,” said Douglas McWilliams, deputy chairman at the Centre for Economics and Business Research which produces the index with YouGov.
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