Weather helps consumer confidence to rise

There was a sharp bounce in consumer confidence in June on the back of improving jobs and property markets, although the good weather was also a factor.

The KBC Bank Ireland/ ESRI Consumer Sentiment Index surged from 61.2 in May to 70.6 in June.

“Monthly increases of this magnitude are not unheard of but they are unusual and it is difficult to reconcile a change on this scale with the economic news flow facing Irish consumers through the relevant survey period,” said KBC chief economist, Austin Hughes.