People feeling less confident about their personal finances, figures reveal
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Consumers were feeling less confident about their personal finances in the first three months of 2018 despite an increase in disposable income.
According to the Office for National Statistics (ONS), real household disposable income per head increased by 1% in January to March compared with the previous three months.
But consumers reported a worsening in their perception of their own financial situation for the third consecutive quarter – the longest downward trajectory in this measure for more than two years.
Real household expenditure rose by 0.1% in the quarter, as the rapid rises in inflation seen at the end of 2017 began to ease off.
It means household spending has now grown for 12 consecutive quarters – the longest period since 2003.
Net national disposable income per head rose by 2.1%, due mainly to an increase in the balance of income received from the UK’s investments abroad.