Friday, 5 August 2016

Positive Economic News for the UK - income tracker stats show positive signs

Just last week, the Asda Income Tracker, a service which charts wages, taxes and household spending, delivered some positive news for us all. Here's a grab from their latest press release:

'The latest figures revealed families across the UK welcomed another rise in spending power in June, with average discretionary income once again reaching £201 a week, enjoying an extra £12 a week (6.2%) on average compared to the same period last year. The increase marks the 20th consecutive month of double-digit growth in spending power, with total average discretionary income remaining at a record level since the Income Tracker began in 2008.
  • The average UK household had a weekly disposable income of £201 a week last month, an average of £12 more than in June 2015
  • Annual growth in spending power has remained above £10 a week for 20 consecutive months
  • Wage growth across the UK remained relatively flat (2.2%) but stayed well above the level of essential item inflation (-0.1%)
  • The rate of unemployment across the UK fell to its lowest level (4.9%) in 11 years
  • Across the nation, families in the North East and Wales saw the largest rise in discretionary income over the last quarter, while the West Midlands saw a fall in the rate of spending power growth'
What all of this is proving is that the economy is on the up. Unemployment is down to 4.9%. There is still a way to go, but this is very good news indeed.