European Consumers More Concerned About Brexit than Brits, Says Reuters

BERLIN – A recent survey revealed that consumers in Spain, Italy, and Poland are expressing greater concern about the economic repercussions of Britain’s decision to leave the European Union than the British themselves.

According to market research firm Mintel, of the over 7,000 consumers surveyed, 48% of Spanish participants believed that Brexit would have a "somewhat" or "extremely" negative impact on their economy. Similar sentiments were echoed by 41% of Italians and Poles, highlighting widespread anxiety regarding potential adverse effects on national employment levels.

In contrast, only 39% of British consumers anticipated a negative impact from Brexit, while 25% expected a "somewhat" or "extremely" positive effect on their economy. Mintel’s research director, Toby Clark, noted that the robust economic growth and declining unemployment in the UK over the past five years may have left many feeling somewhat isolated from the potential repercussions of the vote.

The Bank of England reported that businesses indicated little change in spending patterns thus far. However, a survey by polling company GfK highlighted a significant drop in consumer confidence, marking one of the steepest declines in over two decades.

Consumer spending has been a key driver of economic growth in Britain for the past three years, but economists surveyed now estimate a 60% likelihood that the Brexit decision could lead the economy into a recession.