Data this morning from research firm IHS Markit shows that British households in July saw their financial position dropping to 41.8 from 43.7 in June, the lowest reading since July 2014. Their economist Tim Moore said, ‘there are signs that squeezed household budgets and worries about earnings have started to spill over into consumer spending patterns’ with families postponing big ticket purchases (lowest since December 2013) and holidays.
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