Irish consumers upbeat on recovery but finances still tight

The disparity between consumers’ feelings towards the economy generally and their own financial position persists despite recent indications that people are beginning to feel the recovery in their pockets.

The Central Bank yesterday forecast consumer spending to rise by 2.2% this year, similar to earlier projections by the ESRI which also predicts consumers to have a little more disposable cash to spend, as opposed to last year.

Despite these projections, consumers remain split down the middle in terms of their personal finances, with 24% expecting an improvement in the year while an almost identical proportion are facing into a tougher financial situation.