Consumers more relaxed on spending, survey shows

FIGURES published yesterday hint at better times ahead for the economy – with nearly 50% of people thinking the recession will be over within the next 12 months and new home registration figures increasing sharply.

The latest edition of the monthly AIB/Amárach Consulting “Recovery Indicator” index showed a reading of 23.8 for May, up from 16.3 for the same month last year. Fewer than four-in-10 Irish people now think the economic situation is bad and getting worse, as opposed to seven-in-10 people, this time last year.

The index also showed the amount of those who think the economy is currently showing signs of recovery has gone from 8% a year ago to 25%; while the amount of people who feel the recession will have totally run its course inside the next 12 months has gone from 34% to 42%, on a year-on-year basis.