Legal and General have conducted a survey, questioning more that 23,000 adults over a two year period and found that the number of people saving is on the increase. Since the beginning of the year, we have been in the save mood and thoughts of Christmas have not changed our way of thinking to prompt a spending spree.
Our view
Interest rates on the increase and general public awareness of the need to save is driving this forward.
This may keep the Treasury happy if Christmas spending is curbed, if it is not expect a further interest rate in February 2007.