Index shows consumer sentiment at highest level for eight years

Index shows consumer sentiment at highest level for eight years

Irish consumers are now more optimistic about the economy than at any time since the recession began.

The latest Consumer Sentiment Index from the ESRI and KBC says sentiment is now at its highest level since February 2006.

The new index also shows Irish consumers are now more positive about the future than anyone else in the Eurozone.

Austin Hughes, economist with KBC Bank, says the index shows consumers are now seeing a turning point in the economy.

Mr Hughes said: "What consumers are saying is that the message they are getting from the economic indicators, and indeed various statements that have come out in the last number of months, is that this budget is going to be different.

"So sentiment is responding to that, they are saying that they are seeing a turning point in terms of their own household spending lying ahead."

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