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Bank claim: Consumers more confident about finances

Consumers seem to be becoming more optimistic about their finances, according to a new report.

The latest result from the Markit Household Finance Index has revealed that consumers are more confident about spending overall, with the barometer reading for June at 40.8. This is the highest reading since February 2010, which is the joint strongest since the survey started.

However, some are still finding that their credit is being squeezed. This month, 26 per cent of households said their finances had got worse while only eight per cent reported an improvement.

Nevertheless, Markit insisted that the overall outlook suggests that household finances should pick up overall across the next year.

Among the problems that consumers have been facing with finances is that wages have not been rising at the same rate that they were prior to the economic downturn, which has meant they have had less disposable income to spend.

Charles Baker

Charles is a reputed financial analyst with decades of experience under his belt.ADNFCR-2776-ID-801600517-ADNFCR

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