Consumer sentiment plunges in February

Consumer sentiment fell sharply in February as personal finances remain under pressure and householders worry about their jobs.

The KBC Bank Ireland/ ESRI Consumer Sentiment Index recorded a 7.5% fall in February as the index fell to 59.4 from the four-month high of 64.2 in January.

KBC Bank Ireland chief economist Austin Hughes, said the consumer remains in a difficult place, and monthly changes in the index have been volatile, but said a decline in the three month moving average from 59.2 to 57.8 suggests there has been some weakening in the underlying trend in consumer sentiment of late.