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UK's financial health 'improving'
The financial health of consumers in the UK is improving, according to Alliance Trust.
Last quarter marked the fourth successive period of improvement in Alliance Trust's UK Financial Reality Index. The score rose from 80.3 to 97.7, which is the highest it has been since the second quarter of 2004.
It is thought that the growth was spurred on by lower levels of inflation and good performance within the stock markets.
Shona Dobbie, head of the Alliance Trust Research Centre, said that any improvement could be temporary due to uncertain financial conditions, but consumer spending is likely to pick up.
"Lower inflation combined with exceptionally low levels of interest rates have undoubtedly eased some budget pressures, and the rise in the stock market over the last year has boosted household wealth," Ms Dobbie explained.
She added that the financial outlook for households is "still clouded by the uncertain economic outlook and the possibility that unemployment could rise further".
It was announced today (February 4th) that the Bank of England has decided to keep interest rates unchanged at their current historic low levels.