Consumer confidence holds firm

IRISH consumer sentiment held steady in June as high spending due to lower interest rates and falling inflation countered persistent concerns about the general state of the economy.

That’s the conclusion of authors of the IIB/ESRI consumer sentiment index for June which was down slightly from 66.5 in May to 65.8 in June.

While the index edged lower, a movement of this magnitude was not a cause for concern, said Austin Hughes, chief economist. IIB Bank said the consumers’ poorer expectations in regard to economic outlook reflect disappointment at the absence of a clear improvement in global economic conditions.