Consumer sentiment dips slightly as households prepare for tough budget

CONSUMER sentiment fell slightly from a 16-month-high in November as households braced themselves for a tough budget next week, the KBC Bank Ireland/ESRI Consumer Sentiment Index indicates.

Buoyed by positive reaction to the prospect of further European Central Bank (ECB) interest rates cuts following October’s 0.25% cut, the index fell to 60.1 from 63.7 in October.

The index climbed 10.4 points in October but November’s figures, still well above the 55.4 average for the year, were the second-highest reading since the EU/IMF bailout a year ago.