Consumer confidence falls as budget fears bite

IRISH consumer confidence fell in October as households braced for higher taxes and public spending cuts while the economy slid deeper into recession.

The consumer sentiment index fell to 42 from 45 in September, KBC Ireland and the Economic and Social Research Institute said yesterday. This compares to a reading of 71.8 in October 2007.

Consumer sentiment slumped to a 12-year low of 39.6 in July.