Family spending power rises
UK FAMILIES saw a double- digit increase in spending power in January, according to Asda’s latest Income Tracker.
As employment across the UK continued to rise, the average UK household discretionary income reached £ 197 a week last month, up £ 12 on last year.
However, the research showed that while bank accounts received a boost, January marked the fourth consecutive month where the year- on- year rate of spending power growth fell, due to a slowdown in wage growth and an increase in inflation.
While the economic outlook remains relatively positive, Asda said a slowing rate of recovery is having a knock- on effect on purse strings.