The headline index trended above its long-run average, but was weaker than the recent highs recorded in the second half of last year and signalled pessimism overall, S&P Global Ratings said in a release.
March data revealed that financial well-being across UK households deteriorated sharply month on month (MoM). The respective seasonally-adjusted index posted at a three-month high to indicate reduced pressure on current finances.
At the more granular level, only higher-income households saw an improvement in their financial situation.
Looking ahead, the 12-month financial outlook was the most downbeat in 15 months.
Households anticipated increased concerns for the upcoming year. Sentiment across households echoed business expectations seen in the S&P Global UK Business Outlook report, which signalled subdued forecasts for both activity and employment.
Households’ attitudes towards labour market conditions remained positive, the data revealed.
The rate of inflation was softer than the average recorded over the current 23-month sequence of increase.
Additionally, pessimism towards job security persisted, with UK households signalling negative sentiment for a third consecutive month in March.
ALCHEMPro News Desk (DS)
Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!
marketing@alchempro.com
