UK Household Finance Index Worsens … RTT
UK Household Finance Index Worsens In June
British households’ financial pressures intensified slightly in June, largely reflecting greater living costs, results of a survey by IHS Markit and market research company
Ipsos Mori revealed Monday.
The seasonally adjusted Household Finance Index, or HFI, dropped to 43.4 in June from May’s 25-month peak of 44.9.
Any score below 50 suggests pessimism regarding finances among the U.K. households.
Stubbornly high inflation was a key factor holding back household sentiment in June, with survey respondents recording the strongest increase in living costs for three months.
The survey also revealed that households’ expectations regarding their financial well being in the next twelve months moderated in June.
Workplace activity grew at the sharpest pace since October 2014. The index measuring income from employment indicated a survey-record rise in June and the lowest degree of job insecurity for over nine years.
Around 45 of survey respondents anticipate a Bank of England rate hike by the end of 2018.
by RTTNews Staff Writer