Brexit Boom! Post-Referendum Consumer Spending Surge

SPENDING

Despite claims from Remainers that a Brexit vote would see consumer confidence plummet, new figures out today show spending has surged since the referendum. Just a few weeks ago Remain doom-mongers were writing about a “dent in confidence”, how people were “gloomy” about their finances and wanted to “rein in spending” because of the Leave vote. Yet analysis from Visa and Markit shows a “sharp” rise in expenditure of 1.6% year-on-year in July, up from 0.9 percent in June. There’s been an 8.9% rise in spending at restaurants, a 5.2% rise in recreational spending and a 3.9% rise in spending on clothing. In the first week after the referendum consumer spending rose 2.14%. Rather than rein in spending, Brexit Britain is booming…


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Soros on the pan-European elections to the EU parliament…

“It is difficult to see how the pro-European parties can emerge victorious from the election in May unless they put Europe’s interests ahead of their own. One can still make a case for preserving the EU in order radically to reinvent it. But that would require a change of heart in the EU. The current leadership is reminiscent of the politburo when the Soviet Union collapsed – continuing to issue ukazes as if they were still relevant.”

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