End of Iraq war could herald a hike in consumer spending later this year

THE swift end to the Anglo-American war on Iraq has boosted Irish consumer confidence which could herald a hike in consumer spending later in the year.

The overall IIB Bank/ESRI Consumer Sentiment Index rose to 68.4 in April. This compares to a figure of 62.8 in March.

Commenting on the increase IIB Bank chief economist Austin Hughes said: “The April results should encourage the view that sentiment is stabilising at levels that are consistent with modest growth in Irish consumer spending in coming months.”