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Consumers are more upbeat on their finances

Lloyds Bank's spending power index has climbed to a new high score of 160, suggesting Britons feeling more confident about their personal finances since the general election. Consumers' assessment of their current situation jumped by 11 points to a record high of 213. Household incomes are being boosted by strong wage growth and low inflation. However, Lloyds reported that fewer people now expect to be able to save more, pay off more debt and have more discretionary income in six months' time. The future situation part of the index dropped for a third consecutive month and is now at its lowest level since August 2013.

 

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