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Financial News: Squeeze On UK Household Finances Moderate In December

Squeeze On UK Household Finances Moderate In December

12/18/2017 - 01:01:00 (RTTNews)

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

The household finance index rose to 43.9 in December from 43.5 in November.

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

Moreover, the latest reading signaled the least marked deterioration in financial well being since December 2016.

The index measuring the outlook for financial well-being over the next twelve months, picked up to 48.2 in December from 46.9 in the previous month.

Workplace activity rose at the fastest pace since August and income from employment increased marginally.

On the price front, inflation expectations for the next 12 months rose sharply in December and were the strongest recorded for almost four years.

"The main area of subdued sentiment was in terms of house price expectations, with optimism the lowest since August 2016," Tim Moore, Associate Director at IHS Markit, said.

Around 48 percent of UK households anticipate a Bank of England rate rise in the next six months, although this was down from 56 percent in November.

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