Domestic spending looks set to increase

IRISH consumers feel the worst is behind them in terms of the general economic climate, according to the IIB Bank/ESRI Consumer Sentiment Index, which rose five points in September.

IIB Bank chief economist Austin Hughes also sees good news in the survey for retailers when all the elements of the survey are taken together.

"The picture emerges of a still cautious but slightly less fearful Irish consumer. That should translate into modest growth in domestic spending between now and end year," he said.