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UK families' confidence about their finances slumps to its lowest level in nearly a year as Brexit fears hit

Daily Mail logo Daily Mail 18/02/2019 City & Finance Reporter for the Daily Mail
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Families' confidence about their finances has slumped to its lowest level in nearly a year, a major survey has revealed.

The study by research group IHS Markit found there is deepening gloom about the future amid political turmoil over Brexit.

Video: Lord Mayor of London Estlin on Brexit Talks, U.K.-Asia Collaborations (Bloomberg)

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Its index of household confidence – where anything over 50 means consumers think their finances are improving and anything below means they think things are getting worse – was 43.4 this month, down from 44.7 in January.

Brexit in-depth: All the latest news, analysis and expert opinion

Meanwhile, workers are more worried they might be made redundant. 

a group of people in a room: Families' confidence about their finances has slumped to its lowest level in nearly a year, a major survey has revealed © Provided by Associated Newspapers Limited Families' confidence about their finances has slumped to its lowest level in nearly a year, a major survey has revealed

Perceptions of job security fell for the fourth month in a row, to their lowest since January 2018.

Recent disappointing figures from the Office for National Statistics also showed the economy grew by only 0.2 per cent in the last three months of 2018.

Joe Hayes, an economist at IHS Markit, said: 'The impact on confidence caused by Brexit uncertainty continues to pose a notable risk to the domestic economy, also highlighted by job security perceptions becoming increasingly negative.' 

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