Household Finances Climb From Record Low

The Markit Household Finance Index showed a small improvement in September, climbing from 33.2 to 35.1. 37% of those surveyed claimed their finances had deteriorated since August with only 7% believing their financial situation had improved.

The survey also revealed that public sector workerfinances deteriorated at a record rate, whilstprivate sector workers, in contrast, saw the smallest decline in their financial circumstances for 5 months.

Surprisingly, consumer spending rose for a seventh consecutive montheven though average disposable incomecontinuedto fall.

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