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The IHS Markit Household Finance Index (HFI) rose to 44.7 in May from 43.4 in April on Monday, its highest level since the end of 2016, suggesting that the UK households became much cheerier about their financial situation this month.    

Sam Teague, an economist at financial data firm IHS Markit, noted: “A welcome combination of rising incomes, falling inflation perceptions and fading concerns around job security all contributed to the strongest HFI survey results in nearly a year-and-a-half.”

Additional Findings (via Reuters):

“The latest survey showed more than half of households expect interest rates to rise before the end of the year, little changed from the previous month’s report.

But only one in four see a rate rise by August, which is when most economists polled by Reuters expect rates to go up.

Households’ worries about job security also fell this month to the lowest since the 2008/09 recession, IHS Markit said.

The IHS Markit survey polled 1,500 people from May 11-14.”