Households reluctant to splash out

Consumers are still failing to tap any feel good factor about their personal finances and are reluctant to make expensive purchases despite the continuing growth of the economy and lower unemployment, according to a leading survey.

The monthly survey by KBC Bank and the Economic and Social Research Institute showed consumers slightly less upbeat in August.

“With income growth for many, modest at best and significant legacy problems from the crisis, pressures on household finances remain widespread.