The final months of 2003 offer promise for Financial services providers, according to the latest Financial Activity Bulletin from Martin Hamblin GfK and John Gilbert Associates. Most categories of saving and investment have strengthened since June and returned to the levels of September 2002.
Sixty seven percent of adults expect to save or invest in the next six months, up from 65% in June: a further 13% intend to borrow or pay back debt. Many of the one in five of the population who are inactive are over 65 and live in low- income households.
The rise in the stock market has greatly improved the investment climate. 52% of households are now saving, vs 49% in September 2002. Forty-eight percent of people now believe it a good time to save, against 42% in September 2002 and only 38% in April.
The proportion of adults intending to put money into an ISA in the next few months increased from 26% in June to 31% in September - its highest score since the Bulletin began in March 2002. Intention to invest in shares directly or through unit trusts rose from 11% in June to 14% - and from 17% to 22% among higher income households (over £25,000).
Life and pension expected activity: Quarterly results September 02- September 03
(% of respondents expecting to undertake the activity)
Base: 2,000 adults aged 16+
Type of contribution | Sep-02 | Dec-02 | Mar-03 | Jun-03 | Sep-03 |
Regular pension | 33% | 32% | 35% | 32% | 32% |
Regular life | 26% | 23% | 27% | 25% | 28% |
Lump sum life/pensions | 8% | 8% | 8% | 6% | 7% |
All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.
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