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UK household finances weakest since November 2011

by LLB Editor April 20, 2020

written by LLB Editor 20^th Apr 20 9:22 am

British household finances have hit their weakest point since November 2011, according to the IHS Markit index.

The closely followed UK household finance index, which measures households’ overall perceptions of financial wellbeing, plummeted to a reading of 34.9 in April, with the biggest monthly drop since the survey was started in 2009, as the financial crisis raged.

IHS Markit said, “With a large degree of uncertainty surrounding the time frame to which the emergency public health measures will be maintained, financial wellbeing expectations also fell sharply.

“Overall, the respective index signalled the strongest level of pessimism for almost eight-and-a-half years.”