It is now two months after the shock result of UK’s referendum on EU membership.
Whilst in the lead up to the 23rd June vote there was a discernible atmosphere of trepidation in terms of ‘what if we actually BREXIT’ and a consequential impact on demand this effect was almost insignificant as the reality dawned on the 24th and thereafter all minds focused on the hitherto unimaginable BREXIT choice.
In the intervening weeks a good understanding of the BREXIT process has been gained although the final consequences are far from clear. However there is life after BREXIT and whilst consumers may continue to be concerned about economic uncertainty, August has witnessed as strong uplift in demand as the inevitable replenishment of supply chains gets underway. Further, the demand for big ticket items such as cars and housing may be fuelled by the likely inflation that will result from the devaluation of the GBP as consumers try to bag a bargain and beat the inevitable price increases relating to either imported vehicles, or the imported components and raw materials in UK manufactured cars and houses.
In summary it appears that the UK is getting over the BREXIT ‘hangover’ and consumers are gaining confidence, and whilst the future is uncertain there is, for now at least, the ideal opportunity to postpone any negative thoughts about what may or may not happen when we ultimately divorce ourselves from the EU.