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21/09/2009 11:24:05

Confidence in saving 'still unstable'

Britons are taking a more pessimistic attitude towards saving, new research indicates.

Nationwide, in the latest issue of its Savings Index, reveals the score monitoring the nation's overall outlook on saving money fell five points over the course of last month to 77.

At present, 55 per cent of Britons believe it is personally important that they save, a fall of four percentage points from those who felt this way in July.

Meanwhile, 15 per cent think now is a good time to save money, compared to 52 per cent of respondents considering the current economic situation to be a bad time for putting money away.

Andy Hutchinson, head of savings for Nationwide, states that the decline was "disappointing".

"This suggests that confidence in the savings market is still volatile and yet to stabilise, despite our earlier optimism," he claims.

Such figures come as a recent Abbey study revealed two-fifths of Britons are not saving any money, with around one in four putting less money away now then they were last year.

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