UK household finances deteriorated for a second consecutive month in April, a survey by Markit Economics revealed Monday.
The headline household finance index fell to a three-month low of 37 in April from 37.8 in March. A reading below 50 indicates deterioration.
April's survey data suggested that lower earnings, higher household debt and elevated inflation expectations exerted greater pressure on current finances, Markit said.
Households reported a substantial fall in their year-ahead financial prospects in April. The views were the most downbeat since December 2011.
Households were the least concerned about job security for just over two years, despite with a further squeeze on income from employment. However, this squeeze contributed to both lower savings and higher debt levels during the latest survey period.
Consumers' willingness to make major purchases fell again in April with the index reaching its lowest level for four months.
by RTT Staff Writer
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