BELFAST, Northern Ireland (2/1/12)--Consumers in Northern Ireland are worried that 2012 will bring further economic decline in a country already beset by problems, according to research by the Irish League of Credit Unions.
Large numbers of Northern Ireland residents are borrowing cash from moneylenders to pay their bills and are rationing their fuel, the league survey--its first Household Income Tracker for Northern Ireland--found (Belfast Telegraph
The report is based on representative survey of 500 people.
The survey's findings indicate:
- 65% of consumers surveyed fear 2012 will be more difficult than 2011;
- 87% ration fuel in cold weather;
- 44% have less disposable income than 12 months ago; and
- 150,000 people turn to payday loans and moneylenders.
The Irish League of Credit Unions has 103 member credit unions in Northern Ireland and 494 member credit unions on the entire island of Ireland.