Consumers Spending Again as Covid-19 Lockdown Lifts

Consumers have begun to save less and spend more as lockdown measures introduced to curb the spread of the Covid-19 pandemic continue to ease, according to data from Bank of Ireland, The Irish Times reported. The bank’s Savings and Investment Index, which was published on Monday, demonstrates the changing attitudes of Irish consumers as the economy begins to re-open. Compared to the period of full blown lockdown when savings increased significantly, less people are now saving by default. The bank said there is now more opportunity to spend and less surplus income from measures such as Covid-19 payment schemes and mortgage breaks, which is leading to a return to more normalised patterns of expenditure. When it comes to investing, consumers are continuing to invest but their attitude to investing is back to pre-Covid levels. Read more