More people are likely to begin saving, reveals a new survey, as optimism about the stock market has...
More people are likely to begin saving, reveals a new survey, as optimism about the stock market has almost doubled in the last three months.
Figures released by Halifax show that 28% of adults indicate they are more likely to save over the next three months, compared with 23% who say they are less likely to save.
This suggests a change in attitude of savers, compared with results of the same survey in March, when 29% of Britons said they were less likely to save and 28% said they were more likely to save.
Halifax's latest quarterly Savings Survey also indicates an increasing optimism about the stock market over the past three months, as almost one third of those questioned now expect stock market returns.
In March, only 16% expected any returns.
At the same time, only 21% of adults are pessimistic about prospects for the market compared with 45% three months ago.
Details of the research also reveal that men are more likely to save than women, with 30% of men saying they are more likely to save in the next few months compared with 27% of women.
The likelihood that consumers will increase their saving power over the next few months does, however, decline steadily with age, suggests the Halifax, sd the weakest inclination to save is among those age 65 and over.
The survey also highlights the North-South divide, with 24% of northerners less likely to save in the next few months compared with 21% of southerners.
Head of savings Nick Robinson says:
"A better stock market has naturally led to an increase in optimism about equities on the part of the British public. Just as one swallow doesn't make a summer, however, so the 'Baghdad bounce' doesn't necessarily make for a complete revival in confidence amongst UK investors. The public is more optimistic about the stock market but, for the moment at least, cash is still king."
He adds: "Despite the recent ups and downs of the stock market, UK households are getting richer. The continuing rise in house prices and the recovery in shares prices from the dark days of last year has actually strengthened the balance sheet of the typical British household."
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