Menu
Finance
Cutting These 10 Everyday Expenses in 2014 Will Save You $8,844
How to Perfectly Plan Your Divorce to Protect Your Assets
PNC Bank Review – Overview of PNC Bank Accounts, Loans and More
Here’s Why Bank of America Just Closed Your Credit Card Without Telling You
2014 Academy Award Statue Valued at Just Under $400
Why You Could Start Seeing Your Credit Score on Your Credit Card Bills
How to Host Your Academy Awards Viewing Party on a Budget
Warren Buffett Reveals His No. 1 Investment Strategy That Anyone Can Follow
Your ATM’s OS is a Decade Old: Here’s Why Banks Are Scrambling to Update It
What You Need to Know About Obama’s $3.9 Trillion 2015 Budget
Discover What a Discover Bank Online Savings Account Can Do For You
4 Tips to Cut Your Monthly Bank Fees
Here’s Why One Analyst Says Bank Stocks Are Going to Double
How Ben Bernanke Earned $250,000 in 40 Minutes
Visa and MasterCard Join Forces to Protect Your Card from Hackers
Income squeeze worsens as Osborne faces crunch week
There was more bad news for George Osborne ahead of Thursday’s release of closely-watched GDP figures, as new research shows that the squeeze on household finances has started to intensify.

British family finances worsened in April according to the latest research from data group Markit. The group’s household finance index fell to 37.7 in April, down from 39.3 in March.

“This was the first month-on-month fall in the index since December 2012, signalling that the squeeze on household finances intensified for the first time in 2013,” Markit said.

The news comes ahead Thursday’s key GDP release, which will reveal whether the UK has slipped into a “triple-dip” recession. City economists expect that Mr Osborne will escape the dubious honour of being the first Chancellor to preside over a Britain’s first-ever triple-dip, with a consensus view predicting a 0.1pc rise in output. However, some economists believe the economy is back in recession. Morgan Stanley, for example, expects GDP to have contracted by another 0.3pc,

Lack of confidence is also reigning in spending and hampering the recovery. Half of Britons feel they have become financially worse off over the last year, new research from Halifax shows. The squeeze is being felt the hardest by people in middle age, with 55pc of people in their 40s and 60pc of people in their 50s saying their finances were being squeezed. This compared with 49pc across all age groups.

However, there are some glimmers of brightness to give Mr Osborne some relief. Deloitte’s latest consumer tracker report has revealed signs of life in the consumer economy.

Sentiment about disposable income rose by nine points in the first quarter of 2013, from minus 40pc to minus 31pc. This is the most optimistic consumers have felt about the level of cash they have available since Deloite started tracking the measure in 2011.

Manufacturing pay is also remaining flat through the bargaining period for manufacturing companies in the face of a subdued economy, according to the latest survey on pay data from EEF, the manufacturers’ organisation, and JAM Recruitment.

“Despite inflation remaining above target, this is not being reflected in pay pressures for manufacturing companies,” Lee Hopley, EEF chief economist, said. So long as the economic outlook remains tough, there is little to suggest that there will be any change to this position.”

Menu
Hey Ladies: Don’t Miss Out on the Broke Boyfriend Tax Exemption
3 Ways to Fix Your Finances in One Hour for Daylight Saving Time
IRS Reports This Year’s Average Tax Refund is $3,034
How to Start Saving Money for Your Baby’s College Education
How to Find Free Tax Preparation in Your City
IRS Wants to Pay You $25,000 for Saving Your Tax Return
5 Secrets Your Bank Doesn’t Want You to Know
How to Handle the 5 Most Awkward Money Situations
4 Tips to Cut Your Monthly Phone and Cable Bills
Stop Wasting Money Because You Won’t Admit You’re Old
Amazon Prime Price Hike: Is It Worth It?
10 Tips for Winning Your March Madness Bracket and Some Extra Cash
I Lost My W-2! What Should I Do?
4 Cheap, Fun Ways to Celebrate St. Patrick’s Day
What Four Leaf Clovers and Interest Rates Today Have in Common
Name
Name

Password