Reuters - Video

Edition: US | UK | IN | CN | JP

video Business

Wall Street rises ahead of Fed meeting
Wall Street rises ahead of Fed meeting - 01:06
'Similarities' found in Boeing crash probe
'Similarities' found in Boeing crash probe - 02:23
Data center and office REITs make good bets, says John Creswell
Data center and office REITs make good bets, says John Creswell - 05:43
Lyft hits the road ahead of Uber to lure investors
Lyft hits the road ahead of Uber to lure investors - 01:04
Breakingviews TV: Heavy Lyft
Breakingviews TV: Heavy Lyft - 03:32
Fidelity National buys Worldpay for $35 billion
Fidelity National buys Worldpay for $35 billion - 00:46
OPEC to scrap April meeting but keep oil cuts in place
OPEC to scrap April meeting but keep oil cuts in place - 01:01
Global stocks climb to five month high
Global stocks climb to five month high - 01:22
Eat asparagus? Brexit may hit British farms next
Eat asparagus? Brexit may hit British farms next - 02:09
Eat asparagus? Brexit may hit British farms next
Eat asparagus? Brexit may hit British farms next - 02:09
Deutsche, Commerzbank eye $2tln megabank
Deutsche, Commerzbank eye $2tln megabank - 01:18
Job fears as Deutsche, Commerzbank eye merger
Job fears as Deutsche, Commerzbank eye merger - 01:48
Lyft hits the road ahead of Uber to lure investors
Lyft hits the road ahead of Uber to lure investors - 01:04
Details emerge of Boeing 737 crash in Ethiopia
Details emerge of Boeing 737 crash in Ethiopia - 02:20

UK consumer morale lowest for 26 years

Friday, July 29, 2016 - 01:21

Britain sees the biggest fall in consumer confidence since 1990 following the country's decision to leave the EU. Hayley Platt reports on growing worries about the country's economic outlook.

▲ Hide Transcript

▶ View Transcript

The majority of Britons voted to leave the EU last month. But now consumers are worried. New data from market research company GfK shows consumer confidence since the referendum has suffered its biggest fall in more than 26 years. From -1 last month to -12 in July. (SOUNDBITE) (English) FXPRO, HEAD OF RESEARCH, SIMON SMITH, SAYING: "I guess a drop is not surprising given the Brexit vote we saw in the previous month. Confidence is one thing, consumption is another. So this is just a reading on people's feelings, it's how they actually change their spending patterns as a result of that, that is really going to count." Consumer spending has been a key pillar of economic growth, so this latest gauge of consumer mood is likely to concern the Bank of England. It's expected to cut the UK's already historically low interest rates even further next week by another 0.25 percent to help stimulate the economy. But not everyone's convinced it will work. (SOUNDBITE) (English) FXPRO, HEAD OF RESEARCH, SIMON SMITH, SAYING: "Cutting interest rates at 0.25 basis points is not going to do an awful lot to the economy, credit's already cheap and it's not the price that's been the issue, it's more the availability." And with many economists predicting recession this year, it's no wonder consumers are feeling pessimistic.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Close

UK consumer morale lowest for 26 years

Friday, July 29, 2016 - 01:21

Featured Videos

Art imitates Brexit chaos in London exhibition

Art imitates Brexit chaos in London exhibition

A new London exhibition takes a look at the Brexit vote through art and newspaper front pages.
Who's next? Daltrey and Townshend set for 'full throttle' tour, album

Who's next? Daltrey and Townshend set for 'full throttle' tour, album

The Who's Roger Daltrey and Pete Townshend on their 2019 tour, 'Moving On!', adding an orchestra to the gig and being older, but not past it (yet)
Real-life 'Iron Man' secures jet suit patent

Real-life 'Iron Man' secures jet suit patent

Gravity Industries announces it secured the world's first official patent for its multi-gas turbine engine jet suit
Chocolatier creates environmentally-friendly treats

Chocolatier creates environmentally-friendly treats

Ivory Coasts's Mon Choco produces raw organic chocolate using an artisanal process that includes grinding cocoa beans with the help of a bicycle
Fresh iceberg ruptures raise alarm in Chile's Patagonia

Fresh iceberg ruptures raise alarm in Chile's Patagonia

Two new icebergs have broken off the Grey Glacier in Chile's Patagonia in recent weeks, giving rise to fears that such ruptures are becoming more frequent