Consumer confidence falls significantly

JOB losses coupled with the arrival of new year bills and an end to the sales resulted in consumer confidence falling significantly in February.

The latest IIB/ESRI consumer sentiment index declined to 63.5 in February from 84.9 in the same month last year. The figure is also down from the 67 figure in January.

The key driver of the deterioration in Irish consumer sentiment was a sharp worsening in job market prospects, according to IIB’s chief economist, Austin Hughes.