More seek to save cash

Ongoing concerns for the future of the eurozone are strangling the chances of Irish economic growth being driven by consumer spending, according to the latest mood of the nation barometer.

The monthly savings index for July from the ESRI and Nationwide UK (Ireland) showed a month-on-month rise from 91 points to 98 — meaning more people are looking to save money.

However, the underlying themes are that more people are looking to save due to concerns of economic deterioration rather than for any more positive reason, while increasing numbers of people are finding it difficult to put anything aside for savings purposes.