Consumers less optimistic on finances

CONSUMERS were a little more negative about their personal finances last month with many uncertain about the future.

The consumer sentiment index declined to 66.2 in July from 67.9 the previous month, according to KBC Ireland and the Economic and Social Research Institute (ESRI). The index, however, remains well above the reading in July last year of 49.5 and its all-time low in July 2008 of 39.6.

July’s result does, however, show that the economy is still crippled as the index is well behind the 14-year average of the consumer sentiment survey of 91.1.