Consumer confidence climbs to seven-year high

Fuelled by indications of strong growth and expectations of a less severe budget, consumer confidence hit a seven-year high last month.

The KBC/ESRI Consumer Sentiment Index rose sharply to 89.4 from 81.1 last month, bringing confidence levels to their highest since January 2007.

KBC Bank Ireland chief economist, Austin Hughes said that in light of weakening sentiment elsewhere in Europe, the improvement in confidence here is largely attributable to improvements in the domestic economy.