Leisure tracker

Greene King leisure tracker: British households worried about Brexit impact

By Nikkie Sutton

- Last updated on GMT

Brexit: EU referendum result affects consumer confidence
Brexit: EU referendum result affects consumer confidence

Related tags: Investment, Greene king leisure

Consumer confidence is still on a downward spiral following the Brexit outcome of the EU referendum, according to Greene King’s Leisure Tracker.

According to the findings, a third (33%) of those surveyed expect their household’s financial situation will be worse this time next year and just 8% think there will be an improvement in their prospects.

Almost half (47%) believe the UK economy will contract in the next year, with 62% of 18 to 24-year-olds and 53% of 25 to 34-year-olds taking the view that the economy will decline.

Future finances

Also in the younger age bracket, more than a third (35%) of 18 to 34-year-olds admitted to being worried about future finances. These figures are higher than those for over 55-year-olds, which reflects the pattern of voting in the referendum.

Two-fifths (41%) said they expect personal finances to worsen if the economy goes through a sustained downturn.

Last month (July), the average British household spend was £209 in out-of-home leisure, which is a 2% (£3) increase year-on-year and £1 increase month-on-month.

The drinking-out spend of households without children fell by 9% (£4) month-on-month and remains stable year-on-year, whereas households with children increased their spending by 32% (£14) month-on-month and 39% (£57) year-on-year.

Dining out

Spending on eating out had an 8% increase year-on-year and a 3% increase on June. The latter was supported by a 19% (£17) rise in monthly spending by households with children, as families dined out during the school summer holidays

A small fall in month-on-month spending on other leisure, 3% (£2), was driven by reduced spending on other live events, and is likely to be related to the lack of domestic football and the end of the Euro 2016 tournament along with a decline in gambling.

There was a large increase in spend on drinking out in households with children that has seen other leisure’s share of spend drop by 7%.

In London and the south-east, other leisure’s share of spend dropped by 6% year-on-year.

Uncertainty

Greene King's marketing director, Rob Rees, said: “This month’s Greene King Leisure Spend Tracker reveals that the uncertainty created by Brexit is worrying Brits of all ages. The impact of Brexit on personal finances is a concern but, in fact, UK adults are more pessimistic about the prospects of the wider economy and the potential threat of recession later this year.”

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