Consumers ‘cautiously optimistic’

CONSUMERS remained cautiously optimistic in August despite a wave of global turmoil that hit consumer sentiment in the US and Europe.

The KBC Ireland/ESRI Consumer Sentiment Index stood at 55.8 in August, a touch below the 55.9 registered in July but well below a two-and-a-half year high of 67.9 reached in June last year. While perceptions of current conditions worsened, optimism about the future improved, the survey showed.

Austin Hughes, chief economist with KBC Bank, said: “The August sentiment reading also hints that some consumers are finding a silver lining in dark economic clouds.