Financial confidence shows smaller than expected dip

The confidence of Irish adults about their financial future dipped has dropped by less than expected, according a quarterly survey…

The confidence of Irish adults about their financial future dipped has dropped by less than expected, according a quarterly survey from Standard Life Ireland.

Its financial confidence index at the end of September was down 0.9 points at 56.2 from June.

"It's a smaller fall than we expected, given the survey took place during heightened financial market turbulence," said Brendan Barr, head of marketing with Standard Life.

He added that the most important factor in financial confidence was job security, not the stock market.
Over half of those surveyed (52 per cent) said they expected to have the same level of job security in 12 months time. Some 28 per cent think their employment will be less secure within one year.

Women are slightly more optimistic than men about their employment prospects.

With regard to property 44 per cent of the 1,000 respondents to the survey believed their house will be worth less in 12 months, a rise of 4 percentage points since June.