Consumer optimism about jobs on the rise

Consumers are more optimistic on the jobs front than at any time in the last five years, according to the latest KBC Bank Ireland/ESRI Consumer Sentiment Index.

In its first monthly decline since December, the index fell to 61.0 from 62.5 in April but KBC Bank Ireland’s chief economist Austin Hughes says the May results do not signal a change in trend.

“The 1.5 point drop in the index between April and May has to be seen in the context of the 3.3 point average monthly gain seen thus far in 2012. So, last month’s decline was relatively modest. It should also be noted that the underlying trend in consumer sentiment, as measured by the three-month moving average of the series, increased slightly in May to 61.4 from 60.1,” he said.