Global boost for consumer confidence

THE gradual pick up in the global economy is having a positive impact on consumer confidence with the latest KBC Ireland/ESRI Consumer Sentiment Index improving to 49.6 in September.

Household confidence is also improving internationally and the Irish index is picking up on that, according to KBC.

“With the end of the world seemingly averted and stimulus packages and extremely low interest rates supporting activity, it is scarcely surprising that consumer confidence has improved in many countries,” said Austin Hughes, chief economist KBC Ireland. The huge globalfinancial stimulus package combined with historic low rates over the past 12 moths have also helped to improve people’s outlook, he said.