20% of people saving more because of recession

ONE-in-five people surveyed said they are saving more now because of the recession.

This is according to the AIB/Amárach recovery indicator (ARI) which experienced a lift in December after a fall in November as the index rose from 17.8 to 18.3.

The ARI is a monthly measure of consumer views on the economy.

Three-in-10 of all Irish adults agree that “the economic situation is bad but has stabilised”. Also half of all adults continue to remain optimistic in spite of the current economic situation.

More than half feel the recession is affecting other people more than it is affecting themselves, a slight lift from November.

Almost two out of three adults believe that now is a good time to buy a house while more than half are conscious of paying off debts as a main priority,.

Consumers remain cautious about loosening the purse strings, with only 17% saying they are more relaxed about spending than they were a few months ago.