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CONSUMER SENTIMENT FELL sharply last month to its weakest level since February, according to figures from KBC Bank and the ESRI.
The overall consumer sentiment index declined from an almost five year high of 70 in August to 60.2 in September.
Experts said some of the decrease was due to “intense speculation” about the budget and potential cuts to social welfare and health spending.
All components of the index were weaker last month bu the ESRI said the main declines were in consumers’ view of the outlook for their household finances over the next 12 months and their view of the economic outlook for the next year.
The index of consumer expectations also declined from 61 in August this year to just 48.6 last month.
Commenting on the results, Austin Highes of KBC Bank said while the figures were disappointing, they are not “entirely surprising” as the improvement in confidence recently was tentative and fragile.
“It has been built largely on a gradual easing in concerns in relation to the Irish economy and household spending power rather than any dramatically positive news”. he said. “Unfortunately, the September survey suggests the fear factor has returned as consumers worry about the possible impact of another severe budget on already strained household spending power.”
Hughes said the data would suggest that the government should attempt, in so far as possible, to reduce uncertainty around the budget and spending cuts.
“In highlighting the fragility of sentiment and spending power, the September results also argue that the upcoming budget should seek the minimum adjustment consistent with Ireland’s adherence to the EU/IMF adjustment programme,” he added.
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Can’t see this happen in any shape or form!
Why? Any logical reason, or just populist begrudgery?
Well, if it does, I hope he makes €380 million profit, and that he uses it (all) to pay off his debt to NAMA. Now that I don’t see happening.
Is there not enough empty apartments already
You must mean ARE there not enough? To which the answer is no, not enough of sufficient quality in the appropriate areas. Duplexes in Co Roscommon – well now that’s a different story which only the wrecking ball can truly answer.
I don’t know which is worse the planners(bad name) continuing to grant permission for developement or mcGuiness for President.
I do know – it’s the planners, they cost more than the terrorists and the drug dealers combined. The country is ruined as a result of bad planning decisions.
Dead on. These people are a law unto themselves and put the ass in jackass. No one takes them to task over their bullshit decisions. Wholly unqualified and completely incompetent.
I hope it dosnt happen – more brown envelopes. Will any planner ever be prosecuted for their part in granting permission for developments in Ireland.
One can only assume it is corruption when you see the evidence of developments built in flood zones etc. It is that or pressure from TD’s or Councilors either way one orbthe other should be in jail and should be ashamed to show their face in public.
I think corruption and collusion is common in our councils. We need whistle blowers to stand up.
have your say