Household finances in the UK deteriorated at the fastest pace in four months in May, a survey by Markit Economics showed Monday.
The headline Household Finance Index posted 36.6 in May, down from 37.0 in the previous month. A reading below 50 indicates deterioration.
Around 35 percent of households reported that their finances worsened in May, while only 8 percent saw an improvement.
The amount of cash available to spend dropped at fastest pace in 2012 so far, with mortgage holders being the hardest hit. Households' inflation expectations jumped to an eight-month high, while the job security index fell from April's 26-month high.
Households' financial expectations for the year ahead remained very downbeat in May, yet little-changed from the levels seen during April.
Another survey by the British Retail Consortium (BRC) showed Monday that the number of people visiting the UK's high streets, shopping malls and out-of-town shopping centers fell 2 percent in year-on-year terms in April.
BRC Director General Stephen Robertson said the double digit declines in shopper numbers in April in almost every part of the UK and stubbornly high shop vacancy rates confirm how tough conditions are for customers and retailers.
Cold, wet weather combined with a widespread lack of spare cash kept them at home in April, he added.
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