0 Comment(s)
Print
E-mail Xinhua, October 15, 2012
LONDON, Oct. 15 (Xinhua) -- Average household actual income in Britain increased by 69 pounds (110 U.S. dollars) or 1.6 percent in the second quarter of 2012 thanks to higher wages and salaries, the Office for National Statistics (ONS) said on Monday.
Real household incomes per head stood at 4,510 pounds (7,240 U.S. dollars) from April to June compared with the previous quarter, the highest level since the fourth quarter of 2010.
Real household incomes were up 2.8 percent in the second quarter from the previous quarter without taking account of inflation.
The latest figures showed real household expenditures per head fell 7 pounds or 0.2 percent in the second quarter. Meanwhile, the household savings ratio increased by 0.7 percentage points to 6.7 per cent, with total household savings amounting to 18.2 billion pounds (29 billion U.S. dollars) in the same quarter, up from 16 billion pounds in the first quarter of 2012, said the ONS.
Real income is a sum of wages, salaries and other incomes after taxation, social contributions and household expenditure, excluding mortgage payments and certain luxury goods.
Britain's economy is expected to return to growth in the second half of this year, said a quarterly forecast report issued by Ernst and Young Item Club on Monday.
The report predicted that Britain's consumer price index inflation rate would stand at 2.8 percent in 2012, and then ease to 2.1 percent in 2013, while average earnings in the country would rise 2 percent this year, and further up to 2.8 percent in 2013, 3.2 percent in 2014 and 3.9 percent in 2015.
ONS figures also showed that inflation in Britain was at 2.5 percent in August. Enditem
Go to Forum >>0 Comment(s)