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Financial health expectations turn positive for first time since November 2018 in UK

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Christian Fernsby ▼ | June 18, 2019
UK houses
Britain   IHS Markit Household Finance Index (HFI)registered 43.8

The headline index from the survey, the seasonally adjusted IHS Markit Household Finance Index (HFI)registered 43.8 in June, up from 42.8 in May but below the neutral 50.0 mark, thereby indicating negative perceptions towards current finances by UK households.

UK households continued to report rising activity at their workplaces, with latest survey data signalling solid growth.

Nevertheless, job security perceptions remained negative for an eleventh successive month in June.

Incomes from employment also rose once again during the latest survey period.

The rate of increase was relatively strong by historical standards, but was weaker than the series high recorded in April having eased for the second consecutive month.

UK households perceived current living costs to have risen strongly during June.

According to survey data, the rate of inflation was broadly in line with those seen in the two preceding months.

Meanwhile, inflation expectations were littlechanged from May.

UK households maintained their expectations for a rate increase to be the next move by the Bank of England.

While exactly 69% foresee an increase coming within the next 12 months, around 43% anticipate a rise by the end of 2019.

However, across all horizons, the proportion of UK households predicting an increase to be the next move declined since May.

Precisely 9% now expect the Bank of England to cut rates as their next move, up from 8.3% in May.

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