UK Sees Rebound in Home Finances According to New Survey

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23rd May 2011 16:58 - Financial Services

A study released today by Markit has shown that the decline of finances experienced by UK households appears to be slowing down.

The general public still remain cautious about the wellbeing of their finances, but the results in May have shown an improvement, with the figures being the most positive since January.
This will come as welcome news to those looking forward to an upturn which indicates a move away from the current climate of financial instability.

Tim Moore of Markit commented: “May’s survey showed a small but encouraging rebound in households’ financial outlook, following a record low during April and declines throughout the first quarter of 2011.”

May’s figures also show the Household Finance Index increasing by a half a point to 36, with the Index further predicting the financial outlook for the coming year to rise by 2.6 points, also to a ranking of 36.

Markit have speculated that this good news could be down to household’s improved outlook for the future, after expectations that the Bank of England will be holding back an expected rise in interest rates until later this year.

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