U.K. Saving Ratio Falls to Record Low as Squeeze Takes Toll
- Real incomes show longest stretch of decline in 40 years
- Carney says interest-rate outlook hinges on business activity
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The pressure on consumers from the soaring cost of living was laid bare Friday as Britain published its most complete picture of the economy in the first three months of the year.
Britons saved a smaller proportion of their incomes than at any time on record and household incomes adjusted for inflation fell for a third straight quarter, the longest stretch in 40 years, the Office for National Statistics said.