Contraction in consumer spending eases slightly

THE MASSIVE contraction in consumer spending may be coming to an end but shoppers are not about to charge back into the shops anytime soon.

The KBC Ireland/ESRI Consumer Sentiment Index for February was down to 59.4,compared to a figure of 64.6 inJanuary.

Chief economist KBC Bank Ireland Austin Hughes said the February consumer sentiment results are encouraging in that they suggest the underlying trend in sentiment is still improving, albeit modestly.