Peer2Peer Finance News
The UK's first peer-to-peer finance magazine for investors and the industry
  • Home
  • News
    • Personal Finance News
    • Industry News
    • SME News
    • Global News
  • Property
  • IFISA
    • IFISA Guide
  • Video
  • Open Banking
  • Cryptocurrency
  • Features
    • Joint Ventures and Promoted Content
  • Comment & Analysis
  • What is P2P?
  • Partners
  • Events
    • Past Events
  • P2P Power 50
    • Power 50 2020
    • Power 50 2019
    • Power 50 2018
    • Power 50 2017
  • Sign up to our e-newsletters
  • Magazine
  • Directory
  • Jobs
  • My Account
    • Manage Account
    • Change Password
    • Log In
    • Log Out
shutterstock_730423981
October 10 2017

Consumers more confident about own finances despite concerns for UK economy

Marc Shoffman News, Personal Finance News economy, finances, inflation, Lloyds Bank, p2p, Robin Bulloch

UK CONSUMERS are concerned about the rate of inflation and the country’s finances but seem more positive when it comes to their own money matters, Lloyds Bank claims.

The latest Lloyds Bank spending power report, based on a poll of more than 2,000 people, found 67 per cent felt pessimistic about the UK economy in August, up from 58 per cent a year before.

Public optimism about inflation has also dropped. With only 37 per cent of respondents positive about current levels, down from 54 per cent in August 2016.

Read more: Savers continue to struggle for returns as inflation hits 2.9 per cent

However, UK consumers are feeling far more optimistic about their personal financial situation than the country’s as a whole, with 63 per cent feeling positive about their personal finances, only slightly down on the 65 per cent a year before.

The proportion of those that believe they will have a higher future disposable income in six months’ time has also increased 20 per cent in August 2016 to 24 per cent this year, while 29 per cent of consumers said they expect to be saving more over the same period, up from 22 per cent 12 months ago.

The proportion intending to pay off more debt has also increased from 18 per cent to 22 per cent over the past year.

“Consumers are feeling significantly more pessimistic about the nation’s finances than they were 12 months ago,” Robin Bulloch, managing director of Lloyds Bank, said.

“People are telling us they’re increasingly worried about higher inflation and are spending more on essential items than last year.

“However, there are encouraging signs that some consumers are more positive about their own finances with a significant increase in those believing they will have a higher disposable income in six months’ time.”

Read more: How P2P can help consumers beat inflation

Read more: Even a millionaire can no longer live off savings interest

 

ArchOver nears £50m milestone after bumper year to date A quarter of Assetz Capital loans end up on the aftermarket

Related Posts

Plant Growing Out Of Coin Jar On Table In Office -  Investing / Business Success Concept

Industry News, News, Top 3

Abundance Investment working on “new opportunities”

Model Houses Hanging By Strings

Industry News, News, Top 3

LendInvest bond value lost £5.8m during pandemic

Sonnenuntergang hinter den modernen Wolkenkratzern der Skyline von London, Großbritannien

Industry News, News, Top 3

Everything we know about the CBILS successor scheme (so far)

Popular posts:

  • FCA lumps P2P lending in with higher risk products again
  • 4th Way gives its views on Zopa and Funding Circle returns
  • UK operations help Funding Circle push for profit in…
  • Investors ready to put more money into P2P lending
  • CrowdProperty unveils board changes and hunt for CFO
  • RateSetter outlines benefits of debt consolidation loans
Back To Top
  • Home
  • Contact
  • About
  • Team
  • Advertising
  • Subscribe
  • Privacy
  • T&Cs
  • Disclaimer

Follow Us on Social Media

© Peer2Peer Finance News 2020
• Additional design by