Consumer sentiment stalls as recovery fails to boost spending

Ireland’s economic recovery is still not boosting consumers’ spending power, with rising accommodation costs and water charges among the elements weighing on confidence levels.

The latest consumer confidence index — jointly published by KBC Bank Ireland and economic think-tank, the ESRI — shows a reading of 98.5 points for May, largely unmoved from the 98.7 reading in April. The latest three-month reading shows a rise from 97.6 to 98.4 however, showing consumer confidence isn’t slipping.

While the survey shows more consumers are upbeat about their job status than at any time since 2000, the authors suggest cost of living increases including motor insurance rises and water charge bills are hampering broader spending plans.