Consumer sentiment hits two-year high as fears ease

Consumer sentiment hit a two-year high in July following more positive economic news in Ireland and as fears of a major escalation of the eurozone debt crisis faded.

The KBC Bank Ireland/ ESRI consumer sentiment Index — which measures consumer confidence — rose to 67.7 from 62.3 in June.

The two economists behind the index welcomed the upswing in consumer confidence but noted that it by no way meant a return to the irrational exuberance that marked the heady Celtic Tiger era.