SSIAs to fuel rise in consumer spend

CONSUMER demand is forecast to rise 8% this year (5.6% in 2005) underpinned by rising wages and continuing strong growth in employment, set to rise by 4%.

This sharp increase in consumer spending will be helped by the SSIA windfall about to hit economy.

Up to €4 billion or a quarter of the €16bn savings will be spent this year and next, with €1.6bn due to be splurged in the next six months as investors make the most of their SSIA windfalls.