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20/01/2014
'Surge' In NI Consumer Confidence
Consumer Confidence in Northern Ireland is at an all-time high, according to the latest report from Danske Bank.
The report surveyed the financial position of 1,000 local households and found that spending expectations are at their highest in five years.
The survey said 15% of people's financial position had improved in 2013.
It said the age group 25 to 34 are the most optimistic about their finances in 2014.
Chief Economist Angela McGowan said: "The latest surge in consumer confidence is consistent with a marked improvement in the wider economic environment and reflects a substantial fall in negative responses.
"People appear much less apprehensive about their financial future and there is a definite sense that the worst is behind us".
She continued: "Clearly, participation in the labour market has a huge impact on household financial confidence.
"For those in full time jobs the financial stresses appear to be significantly less relative to other households. The annual improvement in this aspect of the survey also reflects the fact that households tend to respond positively to falling inflation rates. Furthermore, rising house prices also impact upon homeowner's perceptions of their financial well-being."
(IT/CD)
The report surveyed the financial position of 1,000 local households and found that spending expectations are at their highest in five years.
The survey said 15% of people's financial position had improved in 2013.
It said the age group 25 to 34 are the most optimistic about their finances in 2014.
Chief Economist Angela McGowan said: "The latest surge in consumer confidence is consistent with a marked improvement in the wider economic environment and reflects a substantial fall in negative responses.
"People appear much less apprehensive about their financial future and there is a definite sense that the worst is behind us".
She continued: "Clearly, participation in the labour market has a huge impact on household financial confidence.
"For those in full time jobs the financial stresses appear to be significantly less relative to other households. The annual improvement in this aspect of the survey also reflects the fact that households tend to respond positively to falling inflation rates. Furthermore, rising house prices also impact upon homeowner's perceptions of their financial well-being."
(IT/CD)
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