–UK Sep Household Finance Index 35.1 Vs 33.2 in August – Markit
LONDON (MNI) – UK households’ views of their finances remained well
below levels from the start of 2011 and continued to languish near
record lows in September, according to new data from Markit.
The Markit Household Finance Index rose to 35.1 in September from
33.2 in August. The September survey found 37% of households reported
their finances deteriorated since the previous month while just 7%
reported an improvement.
Markit found households are less pessimistic about the outlook for
the next twelve months.
Although 47% of households expect their situation to deteriorate
over the coming year, some 31% of households expect their finances to
improve – the highest number for 17 months. The index posted 42.2 in
September, still below the 50 no-change level.
Commenting on the data, Chris Williamson, Chief Economist at Markit
said that September’s survey points to a flicker of optimism deep in the
economic gloom.
“September’s survey provides a ray of hope that households have
become less downbeat about their future finances, although it is clear
that the strain on current finances remains as severe as that seen at
the height of the recession,” Williamson said.
“Debt is rising and savings are being eaten into as households seek
to maintain spending levels in the face of falling incomes and rising
prices, with the lower income groups the hardest hit,” he added.
–London newsroom 0044 207 862 7491; email:ukeditorial@marketnews.com
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