Consumers notably happier about savings levels

Look after the pennies: Irish consumers are happy with their savings...mostly

Nationwide UK (Ireland) has publised the results of its ESRI Savings Index, with some interesting results on the savings habits of Irish consumers

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14 September 2015 | 0

The Nationwide ESRI Savings Index, which measures overall sentiment towards saving, increased to 114 in August, from 112 in July. These results highlight that savers are feeling positive about the amount they save, as well as showing an increase in the proportion of respondents who feel they are saving less than they should.

Brendan Synott, managing director of Nationwide Ireland, described the results as “mixed.

“We have seen an improvement in customer sentiment towards saving,” he said, “but attitudes towards the current savings environment in Ireland have deteriorated slightly. Although the majority of consumes (51%) feel they are saving what they should, or slightly more, the proportion of consumers who consider this to be a bad or very bad time to save as acttually increased by 6 per cent since July.

“From our ongoing research over the last number of months,” Synott continued, “it is evident that the current low interest rate environment and Government’s policy on savings is a cause of dissatisfaction with consumers. As the announcement of Budget 2016 approaches in a few weeks’ time it will be interesting to see whether this negative perception of the current savings environment will change in the run up to budget or in response to any budget changes.”

 

 

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