ENGLAND'S HOUSEHOLD CONSUMPTION SLACKENS.The National Accounts indicator of household consumption in England rose by 0.6 percent in the first quarter of 2001, close to its 40-year average and the same as in the previous quarter, but weakened as the year went on.Retail sales slackened as the first quarter progressed and dropped off markedly during the second quarter. This is at least partially attributed to the fact that households experienced a decline in real post-tax disposable income disposable income Portion of an individual's income over which the recipient has complete discretion. To assess disposable income, it is necessary to determine total income, including not only wages and salaries, interest and dividend payments, and business profits, but also starting in the first quarter. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the bank report: "Consumption growth is considerably less variable than disposable income-consumers tend to smooth their consumption profile by absorbing erratic er·rat·ic adj. 1. Having no fixed or regular course; wandering. 2. Lacking consistency, regularity, or uniformity: an erratic heartbeat. 3. income changes in their savings. Such smoothing reflects consumption being more closely related to households' expectations of the future path of income." Bank surveys suggest that consumer confidence rose during the first and second quarters, underpinning un·der·pin·ning n. 1. Material or masonry used to support a structure, such as a wall. 2. A support or foundation. Often used in the plural. 3. Informal The human legs. Often used in the plural. the sustained strength of consumer borrowing and increased housing prices. However, confidence was shaken during the third quarter by the attacks on the US and the prospect of a prolonged pro·long tr.v. pro·longed, pro·long·ing, pro·longs 1. To lengthen in duration; protract. 2. To lengthen in extent. slowdown in global trade. |
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