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Financial News: Squeeze On UK Household Finances Moderate In October

Squeeze On UK Household Finances Moderate In October

10/23/2017 - 00:08:00 (RTTNews)

(RTTNews) - The squeeze on UK household finances softened in October, data compiled each month by IHS Markit, using data collected by Ipsos MORI, showed Monday.

The household finance index rose to 43.8 in October from 42.8 in September. Moreover, the figure represented the weakest financial strain recorded for four months.

A score below 50 suggests pessimism regrading finances among the U.K. households.

The data also indicated easing pessimism towards finances over the next 12 months among UK households.

The future household finance index rose to its highest in nine months and scored above post-financial crisis average.

Workplace activity grew further in October, while income from employment fell for the first time since January, and at the fastest pace since the end of 2014.

Inflation perceptions remained elevated in October, but eased from the previous month.

The proportion of UK households anticipating an increase in the Bank of England base rate during the next three months rose notably to 40 percent in October from 12 percent in September.

October's findings represented the largest proportion of households predicting a rate hike in the next 3 months since the survey began in July 2013, surpassing the previous record of 27 percent in June 2014.

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