US Household Squeeze Eases in July

The squeeze on British households’ financial situation eased this month as slowing inflation and greater job security improved conditions from a three-year low recorded in July, a consumer survey showed on Monday.IHS Markit said its monthly Household Finance Index rose to 43.5 from a three-year low of 41.6 seen in July. Both figures are well above the survey’s average reading of 40.4 since it began during the depths of the financial crisis in 2009, but are below the 50 mark that would indicate households felt richer.”UK households continued to face a sharp budget squeeze in August, driven by sustained inflation and weak pay growth,” said IHS Markit economist Sam Teague, adding that unsecured borrowing was rising as households tried to bridge a budget gap.

Source: Financial squeeze on UK households eases from three-year peak – Markit

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.