Squeeze on British household budgets eased in May as an indicator of personal finances showed its highest reading in three years despite straying in the negative territory, a report from Markit Economics showed Monday.
The headline Markit Household Finance Index rose sharply to 40.4 in May from 37.7 in April. Reading below 50 indicates contraction. However, Markit said, the latest reading pointed to the slowest deterioration in household finances since May 2010.
The survey found that increased income from employment helped alleviate strain on cash available for households to spend. Also, their inflation perceptions hit a nine-month low in May, according to the report.
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