Real incomes rise

INCOMES REBOUND TO BOOM LEVELS

Real incomes in the UK have recovered to pre-crisis levels according to official figures last week say Harris & Co accountants Northampton. It looks like the prolonged squeeze on incomes is easing at last.

The Government data shows that real household income in the second half of 2013 grew by 4% compared to the first half of 2008 (which was just before the financial crisis hit).

Further evidence of rising incomes also lies in the GfK-NOP consumer confidence survey. It shows a two point rise this month and it has climbed by 22 points in the last year. This is one of the sharpest rises in its history. Retail sales volumes rocketed 1.7% last month and in the last three months are 4.3% up on a year ago.