UK Household Outlook Most Downbeat Since 2013

British households are more downbeat about the outlook for their finances than at any time since late 2013 as rising inflation squeezes their disposable income, a survey showed on Wednesday.

Official figures on Tuesday showed inflation in February jumped to its highest level in over three years at 2.3 percent, as sterling’s fall since Britain voted to leave the European Union last year pushed up the cost of imports.

Financial data company Markit said on Wednesday its monthly Household Finance Index showed Britons’ expectations for their finances over the next 12 months dropped sharply to 45.3 from 48.1, its lowest level since November 2013.

Reuters

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Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam