UK consumers remain most upbeat since 2015: IHS Markit survey

The latest survey from IHS Markit showed that the UK households’ confidence about their financial situation held at its highest since 2015 this month, Reuters reports.

Key Findings:

“Overall, the IHS Markit Household Finance Index held unchanged at 45.9 in September, the strongest reading since a series high of 46.2 recorded in January 2015.

IHS Markit economist Joe Hayes noted: “UK households’ assessment of their current and future finances, despite ongoing Brexit uncertainty and sustained inflationary pressures, were relatively buoyant in September.”

The IHS Markit survey showed 49 percent of people expect the Bank of England to raise interest rates in the next six months — up by 5 percentage points on the month — and 73 percent expect an increase within a year.

The IHS Markit data was based on a survey of 1,500 adults conducted by market research company Ipsos MORI between Sept. 6 and Sept. 10.

Meanwhile, separate figures from Visa, released slightly earlier on Monday, showed modest year-on-year growth in the volume of consumer spending for August, as Britons continued to make the most of an unusually warm summer.”