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Financial News: UK Household Finance Index Remains Close To Record

UK Household Finance Index Remains Close To Record High

09/17/2018 - 00:32:00 (RTTNews)

(RTTNews) - UK households' perceptions of financial wellbeing remained close to survey-high in September, data from IHS Markit showed Monday.

The household finance index held steady at 45.9 in September, which was the second highest score since the survey began in February 2009.

Household finances were underpinned by improved earnings from employment and favorable labor market conditions.

UK households' outlook regarding future budgets strengthened in September. Moreover, income from employment increased in September.

At the same time, job security perceptions deteriorated, in contrast to the generally upbeat signal from the current and future household finance assessements.

Although expectations of further inflation were sustained in September, the proportion of households anticipating rising living costs was the lowest since November 2016, data showed.

"The HFI survey pointed to the second-lowest level of pessimism about future finances since the EU referendum," Joe Hayes, an economist at IHS Markit, said.

Nonetheless, the latest survey still raised some concerns about the outlook for consumer spending, Hayes added.

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