Consumer confidence on the increase

CONSUMER sentiment improved in April for the ninth month in a row, according to figures from the Economic and Social Research Institute (ESRI) and IIB Bank.

The monthly Consumer Sentiment Index hit its highest level for two years during the month, rising to 90.8 and comfortably ahead of the 86.9 recorded in March.

IIB Bank economist Austin Hughes said increased confidence among consumers, coupled with "relatively modest" income growth, helped to explain why levels of personal borrowing continued to increase and property prices continued to rise.