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Savings Index

Nationwide (UK) Ireland Savings Index

The Savings Index is a monthly report (electronic) produced jointly by the ESRI and Nationwide (UK)  Ireland.

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The issue of savings is important and topical. The personal savings ratio is estimated to have reached an annual average of 10.6 per cent in 2009 [1]. This compares to a rate of 2.3 per cent in 2007. Much of the increase in savings, from an economics perspective, has been due to an increase in debt repayment. Decisions made by individuals about their savings intentions have important implications for personal consumption growth and the input this makes to economic recovery [2].

The index is based on consumer research and consists of a number of different indices including an Overall Savings Index, an Importance of Saving Index, and a Savings Environment Index. The Index uses January – March of 2010 as a base. Updated data will be published monthly on www.nationwideuk.ie.

[1] Quarterly Economic Commentary, Spring 2010. The Savings ratio is calculated by dividing personal savings by personal disposable income.
[2] According the ESRI Quarterly Economic Commentary (Spring 2010) each one percentage point fall in the savings rate amounts to a consumption increase of almost €1 billion.

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For more information please contact :

David O’Síocháin, Pembroke Communications on 01 649 6322 / 087 9362440, david@pembrokecomms.ie; or

Nikki Latchford, Pembroke Communications on  01 6496428 / 086 1026811, nikki@pembrokecomms.ie.