2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
British households undergo the sharpest squeeze in three years
In July, UK households' financial situation has worsened at the fastest pace for three years because British families increasingly stay away from big purchases like household appliances and cars, as Monday’s survey revealed.
Financial data company IHS Markit informed its monthly Household Finance Index tumbled to 41.8 from June's outcome of 43.7, which is its lowest result since July 2014. It definitely reflects an everlasting squeeze on household incomes because wages can’t catch up with inflation.
There are evident signs that squeezed household budgets along with worries as for earnings have started spilling over to consumer spending patterns.
Wednesday’s official data showed that economic surge picked up moderately by the end of June. Experts surveyed by Reuters observe an expansion of 0.3% versus 0.2% in the first quarter, which is half Britain's long-term average surge rate.
The poll also unveiled that households' willingness to make big purchases went down to its lowest reading since December 2013.
The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now.
Happy Monday, dear traders! Hope you had a great weekend and you’re ready for the last trading week in 2022! Later this week we’ll announce some exciting news for you, but now let’s look through some interesting news! Today’s events: USA, UK, Hong…
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.