Jobs market improving sentiment

The labour market has been a driving factor in the improvement of consumer sentiment, which has hit its highest level in nearly seven years.

That is according to the ESRI, whose Consumer Sentiment Index with KBC Ireland increased to 84.6 in January, the highest level seen since May 2007.

A combination of an increase in spending on durable goods and confidence in the hiring helped to push consumers’ sentiment up, said Kevin Timoney of the ESRI.