Consumer sentiment falls after job cuts

THE risk of unemployment following a spate of job losses resulted in the index of consumer confidence falling last month.

The KBC/ESRI consumer sentiment index fell to 49.5 in July from 53.4 in June.

The July reading compares with the index’s historical average of 96. The indicator, which began in 1996, fell to a record low of 39.6 in July 2008.