Influences on household spending: evidence from the 2012 NMG Consulting survey
A number of factors are likely to have restrained household spending growth over the recent past, including weak income growth, tight credit conditions, concerns about debt levels, the fiscal consolidation and uncertainty about future incomes. This article examines the factors affecting spending and saving decisions using the latest survey of households carried out for the Bank of England by NMG Consulting. Real incomes have been squeezed. Concerns about debt levels and tight credit conditions appear to be important factors supporting saving. But many households are also uncertain about their future incomes and have been affected by the fiscal consolidation. Over the next year, households do not expect to change the amount they save significantly, with the same factors that have supported saving recently continuing to be important.
Volume (Year): 52 (2012)
Issue (Month): 4 ()
|Contact details of provider:|| Postal: Publications Group Bank of England Threadneedle Street London EC2R 8AH|
Phone: +44 (0)171 601 4030
Fax: +44 (0)171 601 5196
Web page: http://www.bankofengland.co.uk/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Nielsen, Mette & Pezzini, Silvia & Reinold, Kate & Williams, Richard, 2010. "The financial position of British households: evidence from the 2010 NMG Consulting survey," Bank of England Quarterly Bulletin, Bank of England, vol. 50(4), pages 333-345.
- Bell, Venetia & Young, Garry, 2010. "Understanding the weakness of bank lending," Bank of England Quarterly Bulletin, Bank of England, vol. 50(4), pages 311-320.
- Kamath, Kishore & Reinold, Kate & Nielsen, Mette & Radia, Amar, 2011. "The financial position of British households: evidence from the 2011 NMG Consulting survey," Bank of England Quarterly Bulletin, Bank of England, vol. 51(4), pages 305-318.
- Churm, Rohan & Radia, Amar & Leake, Jeremy & Srinivasan, Sylaja & Whisker, Rishard, 2012. "The Funding for Lending Scheme," Bank of England Quarterly Bulletin, Bank of England, vol. 52(4), pages 306-320.
When requesting a correction, please mention this item's handle: RePEc:boe:qbullt:0090. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Publications Group)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.