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IRISH CONSUMER SENTIMENT dropped slightly in March for the first time in four months but experts say we shouldn’t be worried.
The KBC Bank/ESRI Consumer Sentiment Index slipped to 83.1 in March from the near seven year high of 85.5 posted in February.
Chief economist at KBC Bank Ireland, Autin Hughes, said that in spite of last month’s setback, the sense is that confidence is still set on a modestly improving trend.
“However, the March results emphasise that the mood of Irish consumers is still fragile,” he said.
He commented that it “likely reflects the normal ebb and flow that might be expected in these data in the absence of an overwhelming force pushing sentiment in one or other direction”.
The broad trend in sentiment is still positive and Hughes said “the vicious cycle of fear and falls in activity and employment appears to have been broken”.
Results indicate that spending is being concentrated on ‘big ticket’ items such as cars, electrical equipment and property-related outlays with offsetting restraints on spending in other areas.
Only nine per cent of people reported an improvement in their household finances while 54 per cent said they were worse. 45 per cent of those surveyed see unemployment declining in the coming year compared to 26 per cent who expect joblessness to rise.
Hughes said the data from March shows that consumers need repeated reassurances that the Irish economy is moving onto a recovery footing and any indications to the contrary tend to affect their outlook.
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I save my money for bills / miscellaneous govt. taxes. Cant remember the last splurge I had in actual shops.
The property tax was taken from bank accounts by single payment on 21st of march. In some cases this would have left people with nothing to spend.
“Consumer sentiment”. No I won’t worry. I will just continue to spend as little as I can (same as most other people) because I am effin’ potless. Is that good enough for you? Relieve me of the burden of all these extra levies, charges, taxes etc., and I might actually have something to spend.
How the fu*k would the consumer be happy this covernment just keep dreaming up new charge’s and levies to suck up any spare cash you might have.
No mention of LPT or Water Charges? Or as summer comes round, what this years family holiday might be?
Those are the kind of things, I would have thought, which would affect consumer sentiment.
And let’s not forget that the Government will be taking a further 2-2.5 billion out of the economy by way of cuts to services and increases in taxes/charges.
It is probably a little early to be throwing dem €100 notes around at the Galway races come July!
Yeah……..I think I’ll hold off on those Jeans I was thinking of buying……….I’ll buy a Car instead.
That’s 3 articles on the economy, from The Journal today full of conflict…….The Good, The Bad & The Ugly!
It’s a load of Bolshi(t)e!
The bearded wonder has spoken again nothing about his variable rate rip off charges from the bank that he spouts this bile for somebody should muzzle him
have your say