Rising costs and falling wages squeeze life at home
The deterioration in household finances sped up last month as rising living costs and falling income continued to take their toll on cash reserves.
The Markit Household Finance Index, a key barometer, fell for the first time this year in April, to stand at 37.7, compared with 39.3 in March – representing an acceleration in the rate of decline for the first time this year. A reading of 50 signals that there has been no change in a household's financial situation on the previous month.
Four times as many households (32 per cent) reported a deterioration in their finances in April as those reporting an improvement (8 per cent), Markit said. Among those renting from the local authority of housing association, 45 per cent indicated worsening household finances and only 2 per cent saw an improvement. Tim Moore, senior economist at Markit and author of the report, said: "April's survey highlights a deepening downturn in financial wellbeing, driven by renewed pressures on household income and another strong rise in living costs."
He added that the numbers "stood in contrast to reports from households of increased workplace activity and relatively subdued concerns about job security, especially among those in the private sector".
- 1 Frank Lampard's face drops when Holly Willoughby introduces him as a 'Man City legend'
- 2 'Do not give them a reason': Baltimore man divides police and rioters in hope of avoiding violence
- 3 X Factor in crisis as numbers of people auditioning plummets
- 4 Baltimore riots: Furious mother marches her son home live on TV
- 5 General Election 2015: Stephen Hawking says he will vote Labour
General Election 2015: Tories suspend candidate who said she would never support 'the Jew' Ed Miliband
Bali Nine executions: Indonesia confirms killings of Andrew Chan and Myuran Sukumaran will go ahead
The four utterly contradictory polls that tell the story of this election and why it is pointless trying to predict the outcome
General Election 2015: Prospect of Labour-SNP coalition makes one in four voters less likely to support Ed Miliband, says survey
Baltimore riots: Furious mother marches her son home live on TV
General Election 2015: Chuka Umunna on the benefits of immigration, humility – and his leader Ed Miliband
The sickening truth about food banks that the Tories don't want you to know
Aaron and Melissa Klein: Oregon anti-gay bakers ordered to pay $135,000 after refusing to make cake for same-sex wedding
EU exit would hit UK economy much harder than neighbouring countries, study finds
Andrew Lloyd Webber: Phantom of the Opera writer mocked after issuing a warning about Ed Miliband and Nicola Sturgeon
General election 2015: Labour will toughen hate crimes legislation surrounding Islamophobia
iJobs Money & Business
£Basic (OTE) + Uncapped Commission: Guru Careers: A Stockbroker (qualified / p...
£20000 - £60000 per annum: Recruitment Genius: Are you recently QCA Level 4 qu...
£20000 - £22500 per annum + OTE £30K: SThree: SThree Group have been well esta...
£25 - 30k: Guru Careers: We are seeking an Application Support Analyst / 1st L...