BERLIN (Reuters) – Consumers in Spain, Italy and Poland are more worried about the impact on their economies of Britain’s vote to leave the European Union than the British are themselves, a survey showed on Thursday.
Of the more than 7,000 consumers polled by market research firm Mintel, 48 percent of Spanish respondents believed Brexit would have a “somewhat” or “extremely” negative impact on their economy, as did 41 percent of Italians and Poles.
Consumers in all three countries are worried that the vote will have a negative impact on their national employment levels.
Mintel said 39 percent of British consumers saw a negative impact, while 25 percent believed it would have an “extremely” or “somewhat” positive impact on the economy.
“For the moment at least, five years of steady economic growth and falling unemployment means that many people feel well-insulated from the potential downsides of the vote,” Mintel research director Toby Clark said in a statement.
The Bank of England said on Wednesday that businesses it had spoken with had seen little change in spending patterns so far, but a closely watched survey by polling company GfK showed one of the sharpest falls in consumer morale in over 20 years.
Consumer spending has been a major driver of Britain’s economic expansion over the past three years, but economists polled by Reuters on Wednesday now see on average a 60 percent chance that the Brexit vote will tip the economy into recession.
Link to survey: http://www.mintel.com/press-centre/social-and-lifestyle/european-consumers-more-concerned-over-brexit-economic-impact-than-the-uk
(Reporting by Emma Thomasson; Editing by Hugh Lawson)