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Consumers and the Economic Outlook - Quarterly Update - UK - November 2018

“Financial well-being and confidence was lower in each of the three months to October than we reported throughout the summer months. This matches the stagnant economic performance in August and September. Overall though, most consumers are still getting by, and remain relatively optimistic about their financial future.”
– Rich Shepherd, Senior Financial Services Analyst

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Table of contents

  1. Key Findings

      • Stalled growth hints at difficult times ahead…
        • …but consumers aren’t worrying yet
          • Key economic indicators
            • Figure 1: Key economic indicators, November 2018
        • Current Financial Situation

          • What you need to know
            • A sustained drop in well-being…
              • Figure 2: The financial well-being index, January 2015-October 2018
            • …but it’s not the time for panic
              • Figure 3: “How would you generally describe your financial situation at the moment?”, October 2018
            • The August base rate rise has had a muted effect
              • Figure 4: Current financial situation, by housing situation, October 2018
          • Changes in Financial Situation

            • What you need to know
              • Most people are better off or in a similar position as last year
                • Figure 5: “How does your own financial situation compare to how it was a year or so ago?”, October 2018
              • A blip in September
                • Figure 6: Changes in household finances, January 2015-October 2018
              • Only those much worse off are facing real trouble
                • Figure 7: Current financial situation, by change in financial situation over the past year, October 2018
            • Financial Confidence

              • What you need to know
                • Confidence has dipped since July
                  • Figure 8: The financial confidence index, January 2015-October 2018
                • …but the outlook remains positive
                  • Figure 9: “And how do you feel about your financial situation over the next year?”, October 2018
                • It doesn’t take a great amount to provide reassurance
                  • Figure 10: Financial confidence for the coming year, by value of savings and investments, excluding pensions, October 2018
                • Younger men and over-55s show greater confidence
                  • Figure 11: Financial confidence for the coming year, by age and gender, October 2018
              • Planned Financial and Spending Activity

                • What you need to know
                  • A seasonal drop in spending
                    • Figure 12: The financial activity index, January 2015-October 2018
                  • Saving activity is strong
                    • Figure 13: “Thinking about how you spend your money, which of the following have you done over the last three months? And which do you plan to do over the next three months?”, October 2018
                  • Different opportunities, different priorities
                    • Figure 14: Financial activity in the past three months, by current financial situation, October 2018

                Consumers and the Economic Outlook - Quarterly Update - UK - November 2018

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