Consumers ‘less inclined to make major purchases’

Irish consumers are “less inclined to make major purchases” in the coming months as they fret about the recovery of the economy and their financial situation, the latest KBC Ireland/ESRI Consumer Sentiment Index indicates.

The index remained broadly unchanged, dipping from 60.0 in March to 58.9 in April with the three-month moving average falling from 61.2 to 59.4, reflecting a slight weakening of sentiment since the start of the year.

Chief economist of KBC Bank Ireland, Austin Hughes, said the pressures on household finances are likely to limit any improvement in consumer spending.