Newsflash: UK households concerned about money

17 July 2014

Average-household-bills UK households have signalled the weakest confidence about their finances in six months.

This piece of 'No shit, Sherlock' news comes from economic research group Markit, who claim that the monthly Household Finance Index dropped to 42.1 in July from 42.6 in June as households voiced concerns about savings, debt levels and credit availability.

Those in the lowest income bracket (earning less than £15,000 a year) were the most downbeat about their financial situation, whereas - and this may come as something of a shock - those earning over £57,750 are quite upbeat.

The seasonally adjusted index measuring the outlook for financial well-being in the next 12 months was 47.7, down slightly from 47.8 in June.

Senior Economist Jack Kennedy said: "The survey’s main barometer slipped to a six-month low, while the future expectations index also fell, perhaps reflecting caution regarding the possibility of an interest rate rise before the year’s end."

"However, the survey continued to signal less severe financial pressures than at any time in the five years leading up to 2014. Moreover, easing inflation perceptions and strongly rising levels of workplace activity suggest certain pressures on households may be abating, which could help offset the impact of higher mortgage costs following any action by the Bank of England to hike rates."

So to rub people's noses in it - poor people aren't happy.

More blindingly obvious news as and when the next pointless survey arrives.

TOPICS:   Utilities   Economy

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