Tag: household spending

Monthly incomes £22 lower in 2012

Monthly incomes £22 lower in 2012

The average monthly income of UK households fell by £22 in real terms compared with last year, according to a survey carried out for the Bank of England (BoE) by NMG Consulting. People on lower incomes have seen their income eroded more than higher earners and households still have high levels of debt the BoE […]

December 18, 2012 More
Improvement seen in consumer finances

Improvement seen in consumer finances

Two separate surveys have reported an improvement in household finances, bolstering optimism that the recession is coming to an end. Although Markit, the financial information services company, reported a worsening in consumer finances in October, it was the smallest deterioration in the past two years. The Markit Household Finance Index, which is designed to accurately […]

October 22, 2012 More
Raising a child costs £8,000 a year

Raising a child costs £8,000 a year

The average cost of raising a child up to the age of 11 increased to £8,307 a year in 2011, according to the Halifax. The figure represents a 15 per cent increase over the last five years and means that it now costs more than £90,000 to raise a child to secondary school age. Inflation, […]

September 3, 2012 More
Households more optimistic about their finances

Households more optimistic about their finances

Household finances are still deteriorating, but at a slower rate, according to the Markit household finance index. The index increased from 37.5 in July to 38.9 in August, with figures above 50 representing a positive change in household finances, and figures below 50 representing a negative change. The August figure represents the third consecutive monthly […]

August 20, 2012 More
Households’ disposable income falls

Households’ disposable income falls

In the 2012 first quarter, individuals’ disposable income fell to the lowest level since 2003, according to new figures from the Office for National Statistics. Spending power is being eroded because wages are failing to keep up with inflation causing the average disposable income in the first quarter to fall to £273. Disposable income including […]

July 31, 2012 More
CBI: UK service sector firms show cautious optimism

CBI: UK service sector firms show cautious optimism

A survey by the CBI has revealed consumer service firms have been hit by a cut back on spending. According to the CBI, firms such as hotels, bars and restaurants, saw evidence of weak demand but are optimistic about future prospects as conditions are not expected to be as challenging in the coming quarter. Meanwhile, […]

May 26, 2011 More
UK Q1 economic growth figures remain unchanged

UK Q1 economic growth figures remain unchanged

The Office for National Statistics (ONS) has today revealed the UK economy grew by 0.5% in the January to March period – unchanged from the first estimate last month. The figure is in line with market forecasts but is behind Chancellor George Osborne’s forecast of 0.8%. The reading suggests the recovery of the UK economy […]

May 25, 2011 More
US Fed to proceed with QE2

US Fed to proceed with QE2

Minutes from the December 14 policy meeting have revealed that US central bank, the Federal Reserve, will press ahead with its $600 billion (£385 billion) stimulus programme. The fresh round of stimulus comes despite improvements in the world’s largest economy, the minutes revealed. Many economists suggested that the strengthening recovery would result in the Fed […]

January 5, 2011 More
PM to deliver speech about the economy

PM to deliver speech about the economy

David Cameron is to deliver a speech today at the CBI’s annual conference and is expected to defend the recent spending cuts, while pledging to create a “new economic dynamism” in Britain. The Prime Minister intends to boost business confidence and growth and is expected to say: “This is an incredible opportunity for Britain – […]

October 25, 2010 More
Japan continues its battle with deflation

Japan continues its battle with deflation

Official figures today revealed Japanese core consumer prices fell 1.0% in August compared with a year ago – representing the 18th consecutive monthly decline that the world’s no.2 economy has been in deflation. A short period of deflation (where prices fall rather than increase) could be a serious threat to the economy because it deters […]

October 1, 2010 More
BoJ elects to hold interest rates at 0.1%

BoJ elects to hold interest rates at 0.1%

After a two-day policy board meeting, the Bank of Japan (BoJ) has elected to keep interest rates at 0.1%, as widely expected. Interest rates in the world’s second largest economy have been at the low level since December 2008 in a bid to fight off deflation. Deflation remains a problem for the economy. Japanese core […]

April 30, 2010 More
US Fed holds interest rates and is optimistic for the future

US Fed holds interest rates and is optimistic for the future

The US Federal Reserve has yet again unanimously kept interest rates on hold at between 0% and 0.25% – as widely expected. The US Central Bank said that the current low levels of interest rates will likely continue “for an extended period” to aid the continuing recovery of the world‘s largest economy. The Fed also […]

Fears for Japan as unemployment rate hits 4.4%

Fears for Japan as unemployment rate hits 4.4%

There is more bad news for Japan today after the statistics bureau in Tokyo announced that the unemployment rate has risen to a 3-year high of 4.4%, up from 4.1% in January. The Government said that the number of people out of work in Japan last month stood at 2.99 million, up by 330,000 from […]