Table of Contents
Key Findings
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- Brexit: finally a resolution
- Growth in December holds off fears of a double-dip recession
- Household finances continue to hold up
- Key economic indicators
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- Figure 1: Key economic indicators, February 2021
Consumers’ Response to the EU Referendum Result
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- What you need to know
- A deal at last
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- Figure 2: Level of concern over the impact of the EU referendum, July 2016-January 2021
- Consumers enter the post-Brexit world with familiar concerns
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- Figure 3: Consumer views on the impact of the EU referendum, January 2021
- Students have the biggest job fears
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- Figure 4: Consumer views on the impact of the EU referendum – Any negative response, by employment status, January 2021
Current Financial Situation
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- What you need to know
- An index-high for financial wellbeing…
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- Figure 5: The financial wellbeing index, January 2015-January 2021
- …and a record proportion with healthy finances
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- Figure 6: "How would you generally describe your financial situation at the moment?”, January 2021
- Higher earners have enjoyed bigger gains
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- Figure 7: Healthy finances response, by annual household income, November 2020 vs January 2021
- A third expect the latest lockdown to have no impact on finances
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- Figure 8: Anticipated impact of the lockdown starting in January 2021 on household finances, 8-13 January 2021
Changes in Financial Situation
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- What you need to know
- A recovery, but the pandemic is still causing finances to deteriorate
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- Figure 9: Changes in household finances, January 2015-January 2021
- Worse off, but not by much
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- Figure 10: "How does your own financial situation compare to how it was a year or so ago?", January 2021
- Most households remain unaffected by job losses and furlough
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- Figure 11: How consumers have been affected or changed their behaviour as a result of COVID-19, 8-13 January 2021
Financial Confidence
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- What you need to know
- Three months of stable financial confidence
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- Figure 12: The financial confidence index, January 2015-January 2021
- 83% expect to get by over the next year
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- Figure 13: "And how do you feel about your financial situation over the next year or so?", January 2021
- Nerves are higher among the self-employed
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- Figure 14: Financial confidence for the year ahead, by employment type, January 2021
Planned Financial and Spending Activity
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- What you need to know
- Spending remained subdued before the latest lockdown
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- Figure 15: The financial activity index, January 2015-January 2021
- Renewed focus on the home, but positive sounds from the travel sector
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- Figure 16: "Which of the following have you done over the last 3 months? And which do you plan to do over the next 3 months?", January 2021
- Christmas 2020: better than feared
- Hygiene and small luxuries continue to drive COVID-19 spending
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- Figure 17: Changes in expected spending habits over the next month, 8-13 January 2021
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