Fear for jobs as consumer confidence nears five-year low

CONSUMER confidence has fallen to its lowest level in four-and-a-half years.

The latest IIB/ESRI consumer sentiment index (CSI) dropped to 62.7 last month, the lowest since its 60.9 reading in July 2003 — which was a record low for the gauge.

Just one-in-12 consumers expect the jobs market to improve this year, compared with one-in-four a year earlier, according to the report.