We're saving more
IRISH people saved more in the new year with the Nationwide UK (Ireland)/ESRI Savings Index up 19 points compared to December. A total of 40pc of people now save regularly, an increase of 3pc from December and one in three people believe that now is a good time to save.
Brendan Synnott, managing director of Nationwide UK (Ireland) said that the trend has been an increase in saving behaviour and a reluctance to spend amongst consumers.
"This trend and other economic indicators mean that there is still no sign of a consumer demand led contribution to economic recovery and this situation is unlikely to change at least until after the General Election," he said.