2018.01.2922:41:00UTC+00UK Consumer Confidence Turns More Upbeat in January - Survey

The confidence of British households increased at its quickest pace in a year in January, implying that the Brexit-bound economy might hold up stronger than expected again this year, according to a survey.

The jump was propelled by the biggest rise in households' assessment of their financial position in the past month since November 2014, according to polling firm YouGov and the Centre for Economics and Business Research, a consultancy.

The firms' overall index of sentiment increased to 108.2 in January, from 107.1 previously. However, the index remained below its levels of around 114 before the Brexit vote in June 2016.

Britain expanded more quickly in 2017 than most economists expected at the time of the referendum.

However, the U.K. remains under pressure, as expectations for house prices and job security over the next 12 months all dropped, according to the survey.

Furthermore, it fell behind other rich economies as consumers felt the pinch from the spike in inflation caused by the Brexit vote and weak wage growth, and companies waited for clarity about the country's future ties with the European Union.

The survey was conducted in the first three weeks of January and was based on responses from around 4,500 people, YouGov said.