British households undergo the sharpest squeeze in three years

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.

Similar

Canadian CPI

Inflation data is the most important indicator that affects the central bank’s monetary policy.

British inflation edges up 2.4%

In June, inflation in Great Britain tacked on at a slower than anticipated tempo, thus contributing to the major bank’s dilemma as it considers whether to have interest rates lifted next month or not…

Popular

Asian shares tumble with Japan markets shut

On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…

Greenback surges as yields soar

On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera