Household

• A European Central Bank (ECB) working paper reveals that European households continue to show a persistent reluctance to invest in equity markets. • Utilizing data from the ECB's consumer expectations survey, the report highlights a gap between the known long-term wealth-building potential of stocks and actual investor behavior. • This trend is significant as it suggests that a large portion of the population is missing out on financial growth and diversification opportunities.

Australia is pioneering a revolution in home renewables and battery use, proving what is possible with the right policiesThe timing was rich with symbolism. As intense heatwaves pummelled Europe and Asia, and oil markets around the world leapt and sputtered, the two big chimneys of one of Australia’s largest power stations were being demolished. Meanwhile, the Australian energy minister was holding a media conference to hail a fall of up to 10% in the benchmark electricity price in parts of the country.Quietly, and with surprisingly little fanfare from the rest of the world, Australia is pioneering a revolution in home renewables and battery use, proving what is possible with the right policies. The country was already one of the global leaders in domestic solar power, with panels on one in three homes. It also remains, however, a major contributor to the climate crisis through its vast fossil fuel exports.. But it is batteries that are giving Australia a new burst of speed. Continue reading...

Growing fleet of datacentres last year used 22% of the country’s electricityEnergy demand by datacentres in Ireland has added hundreds of euros to household electricity bills in a pattern that could be replicated across Europe, according to a new report.The centres have “drained” €715m (£620m) from the Irish economy and increased household bills by a cumulative average of €360 between 2015 and 2023, said the report commissioned by Friends of the Earth Ireland and Beyond Fossil Fuels. Continue reading...

Under government’s price cap typical gas and electricity bills are forecast to rise by £209 from this summerMinisters face growing calls to cut utility bills as millions of households in Great Britain face energy cost “anxiety,” with gas and electricity costs forecast to rise to almost £1,900 from this summer.The typical dual-fuel bill is expected to climb by nearly 13% under the government’s energy price cap, adding £209 a year to household costs, in a blow to families already hit by rising prices for essentials. Continue reading...

• Poland and Portugal experienced the strongest real household income growth in Europe over the last two years, with Spain leading among major economies. • Specific growth rates included the Netherlands at 2.3%, Portugal at 2%, Denmark at 1.9%, Greece at 1.8%, and Spain at 1.5%. • The OECD attributed Poland's acceleration to employee remuneration offsetting lower social benefits, while Greece's growth was driven by property income and the lowest unemployment rate since 2009.

Dip in credit card spending in April, particularly on travel, suggests Britons preparing for harder times amid Iran war falloutHouseholds cut back on their spending in April at the fastest pace in 18 months, as the conflict in the Middle East provoked fears of another cost of living crisis, a report from one of the UK’s biggest banks has suggested.Barclays, which processes nearly 40% of the UK’s credit and debit card transactions, said its data showed there had been a 0.1% fall in card spending last month compared with a year earlier. This was the first year-on-year fall since November 2024. Continue reading...

PwC survey reports fast fall in consumer confidence with people worried about Iran war’s impact on economy and personal financesBritish households are bracing for a new cost of living crisis, as the impact of the Middle East conflict dampens confidence in the economy and personal finances, a survey has suggested.Consumer confidence in the UK has dipped over the last three months at the fastest rate since June 2022, when inflation in the UK was soaring as a result of Russia’s invasion of Ukraine and the spike in commodity prices. Continue reading...