Consumer confidence returns to boom levels last seen in 2006

Consumer confidence has returned to boom levels, according to the Consumer Market Monitor which found that consumer confidence has returned to levels last seen in 2006.

The results of the third quarter monitor from UCD Michael Smurfit Graduate Business School and the Marketing Institute of Ireland shows consumer confidence at a six-year high in Sep 2013, despite concerns about the impact of new household taxes.

Professor of Marketing UCD Smurfit School Mary Lambkin said that sales of big ticket items like houses and cars were a sign that the economy was turning.

“Disposable incomes are still under pressure, but consumer confidence has returned, a leading indicator of recovery in the consumer market. Increased car sales in recent months are another positive sign, as is the rise in the number of residential property sales. In addition, the fact that the Government budget was brought forward to October this year, and employment data continues to be positive, should help to ensure confidence stays upbeat in the final quarter of the year.”

There were over 10,900 home purchase transactions in the first half of 2013, an increase of 13% on last year. There were 6,000 transactions in the second quarter alone, compared with 5,200 in Q2 2012, a rise of 15%.


More in this Section

Little room for hot air in energy debate

No secret to games success for 9th Impact

US tax plan could still prove to be Ireland’s undoing

Much more to do if STEM is to be a game-changer


Breaking Stories

US stocks close modestly higher as S&P 500 and Dow Jones hit new high

Businessmen sued by fund for €2.1m over alleged loan default

Ryanair fail in bid to have ’screen scraping’ case fast tracked

Fears of possible festive disruption grow as direct employee Ryanair pilots vote in favour of industrial action

Lifestyle

A heavy burden for such young shoulders caring for parents this Christmas

How to enjoy Christmas without piling on the pounds

The Islands of Ireland: Former East Skeam resident recalls life on the island in West Cork

With ancient roots the pantomime dame is still a firm favourite

More From The Irish Examiner