IHS Markit’s household finance index fell from 47.6 in February to 42.5 in March, its weakest level since last May. The 50 mark separates growth from contraction in the economic information provider’s index. It marks a significant deterioration in consumer sentiment, only a month after the index reached its highest level in 11 years. The UK economy started the year riding a wave of optimism after the decisive general election result in December, but coronavirus has changed the picture dramatically. Activity in large parts of the economy has stalled since the government introduced containment measures to deal with the Covid-19 crisis.

Source: The Times March 23, 2020 17:03 UTC