People are using SSIA money to pay off personal loans and credit-card debts, according to leading economists.
The splurge on luxury and expensive products, which many businesses marketed aggressively to SSIA savers, has failed to materialise.
CSO retail sales figures released last week showed that motor sales fell by 3.5 per cent between March and May, and department store sales increased by 7.6 per cent, which was attributed to more competitive prices in the clothing sector.
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