AIB/Amárach Recovery Indicator shows positive outlook
The AIB/Amárach Recovery Indicator experienced its strongest monthly surge in January, reflecting both a changing national 'mood' and a possible 'seasonal boost'.
The index has increased from 18.3 in December to 27.1 in January. One third of all Irish adults are now in agreement that 'the economic situation is bad but has stabilised', while three in ten agree that "the economic situation is bad but showing a few signs of recovery".
Other key findings from January's ARI survey:
- Three in five adults (61%) are optimistic in spite of the current economic situation (an increase of 10% points compared to the December figure).
- The majority of adults (52%) feel Ireland will be through the worst of the recession in 12 months time (this similarly shows an increase since the December figures +9% points).
- Two in three adults (66%) believe now is a good time to buy a house for those who want to (an increase of 6% points compared to the December figure).
Three, very telling consistencies are:
- A majority remains conscious of paying off debts as a main priority (60%); only marginally up on December (57%).
- One quarter are steady in their agreement that they are saving more now because of the recession (26%, December was also 26% agreement).
- Significantly the same proportion agree (29%) to being happy to borrow money from a bank 'if I need to', i.e. there is no increase in those willing to borrow.
Although from a macro perspective Irish adults appear more optimistic about the future, they are still conservative with regard to their own personal financial outlook and they remain consistent in their views on savings and on debt repayment.