Don’t bank on Brexit breakthrough, consumer outlook dim

The EU Chief Brexit Negotiator, Michel Barnier’s suggestion that the EU is ready to offer the UK a bespoke Brexit deal has provided some reassurance that the UK is not heading for a disruptive “no deal” exit from the EU in March 2019. However, we are sceptical that this marks a major turning point in the negotiations and we still think that an agreement will probably only be secured at the eleventh hour. As a result, Brexit uncertainty is likely to persist for a while longer.