Fam­ily spend­ing power rises

Yorkshire Post - Business - - FRONT PAGE -

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.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.