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UK household finance index remains near its record highs

The country’s households’ perceptions of financial wellbeing remained close to survey-high in the month of September

This was demonstrated by data from HIS Markit on Monday.

The household finance index held steady at 45.9 in September, which was the second highest score since the survey originally began in February 2009.Household finances were underpinned by improved earnings from employment and favorable labour market conditions.

UK households’ future outlook regarding budgets in September remained strong. Moreover, income from employment also increased in September. However, Job security perceptions deteriorated, in contrast to the generally upbeat signal that came from the current and future household finance assessments.

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

“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.

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

-GBO Correspondent.

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