An increase in the number of under-50s who regularly save is evident from the latest Nationwide UK (Ireland)/ESRI savings index.

The index, which measures saving habits, declined by six points in August to 105. It found that the number of people under 50 who are saving regularly increased from 38 per cent in July to 43 per cent in August. There was no increase in the number of over-50's saving regularly, however.

Some 53 per cent of under 50s believe that Government policy is discouraging saving, compared with 47 per cent of over 50s.

Brendan Synnott, managing director of Nationwide UK (Ireland) said the decline in the Savings Index could indicate a more positive trend towards greater consumer spending.

"The decline in the Index this month is welcome from a wider economic perspective. It provides some evidence that the anxiety amongst consumers which was apparent earlier in the year has eased somewhat. The Index is still trending above 2010 levels so there is a long way to go before we get back to normal saving and spending patterns," he said.

The survey found that 25 per cent of consumers save between €51 and €100 a month, while 24 per cent save between €101 and €200 per month.