UK Firms More Optimistic About Brexit Deal

Monday, 9th April 2018

The trade deal means that there is less risk of disruption for UK companies - at least until the end of 2020, although the transition agreement will not happen until London and Brussels reach an agreement regarding long-term trade ties.

Deloitte interviewed 106 CFOs from some bigger British firms, and major British subsidiaries of foreign companies, and found that after the news of the extension to the current trade terms, many of the leaders of the UKs top companies were more confident in the outlook for the transition period. Indeed, rather than being worried about Brexit, more companies fear the impact of weak consumer demand on the economy. Falling consumer demand is a huge concern for high street retailers and for companies that rely on discretionary spending. Investors are now becoming risk-averse, and consumers are spending less on the high street, which is impacting consumer goods, entertainment, supermarket and luxury focused companies, while traditional safe-havens are becoming more appealing to investors who want to wait and see what 2019 and beyond will hold.

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