Belfast Telegraph

Consumer spend down in Ireland

By Charlie Weston

Consumer sentiment in the Republic weakened slightly in August as consumers reined in their spending plans.

Consumers continued to report only limited gains in their personal finances from a healthy economy.

At current levels, sentiment is broadly positive, but Irish consumers are still cautious because household spending power remains constrained, according to the KBC Bank/ESRI sentiment index.

The index fell to 102.9 in August, a relatively modest drop from the 17-month high of 105.1 recorded in July.

The underlying trend, as measured by the three-month moving average of the sentiment series, remains modestly positive, climbing to 104.3 last month from 103.5 previously.

KBC Bank chief economist Austin Hughes said consumers were broadly positive about the prospects for the Irish economy and the outlook for jobs.

Belfast Telegraph

Weekly Business Digest Newsletter

This week's business news headlines, directly to your inbox every Tuesday.