Financial confidence is on the rise, according to a new survey, indicating that Irish adults could be coming to believe the worst of the economic crisis is over.

The Standard Life Financial Confidence Index has shown an increase for the first time in 21 months, rising 2 per cent to 54.6 per cent in the quarter to December last year.

The quarterly index, which hit a record of 66.7 in March 2008, has fallen for a year and a half since. Its lowest point was in September 2009, when it reached 52.6.

“This is the first increase in nearly two years and hopefully, increased confidence signals a positive impact for the real economy,” said Brendan Barr, head of marketing at Standard Life. “Our latest survey was taken during the second half of December, after one of the toughest budgets in years, so this is even more encouraging news.”