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UK Households' Financial Well Being Falls

UK households' assessment of their financial well-being fell in August, survey data from the IHS Markit showed on Monday.

The IHS Markit Household Finance Index, or HFI, fell to 43.7 in August from 44.3 in July. Any reading below 50 indicates negative perceptions regarding financial well-being.

Job security remained negative since March and income from employment rose in August.

The living cost inflation eased to the lowest in five months and expectations weakened for the first time since May.

A shift in the household interest rate expectations was recorded on the likelihood that the next move will be a cut.

"The Brexit haze, uncertainty over the political environment and the increased possibility of the UK entering recession appear to have dented expectations, which dipped into negative territory following positive readings in both June and Jul," Joe Hayes, economist at IHS Markit, said.

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