Journal Article
The financial position of British households: evidence from the 2008 NMG Research survey
Authors
Publication date
2008
Abstract
The financial position of British households has been affected by a number of developments over the past year, including sharp fluctuations in food and energy bills, falling house prices and tighter credit conditions. Evidence from the latest survey of households, carried out for the Bank by NMG Research in late September and early October, shows how these and other changes have impacted on household budgets and spending decisions. The typical household reported that the income it had available after meeting household bills had fallen over the past year and that it had saved less than it had expected. Some households had been put off spending by tighter credit conditions, and more households were finding their debts to be a burden than in similar surveys carried out since the mid-1990s. But despite the greater pressures on household finances, only 3% of the households surveyed had so far fallen behind on bill or debt payments. Lower house prices had reduced the housing equity of homeowners.
Published in
Bank of England Quarterly Bulletin
Volume
48 (4):384-392
ISSN
16
Subjects
Economics, Savings And Assets, and Debt: Indebtedness
Links
http://serlib0.essex.ac.uk/record=b1595369~S5
Notes
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