Economic indicators ‘bode well’ for 2016 according to KBC/ESRI Consumer Sentiment Index

Consumer confidence is at 10-year high as the number of professional jobs coming on stream continues to rise and exports remain strong.

A range of economic indicators paint a positive picture as the year draws to a close with the number of professional jobs available last month close to 10% ahead of the same period last year, though down slightly on the July peak.

The improved outlook coupled with healthier household finances boosted consumer confidence levels to a 10-year high last month.

The KBC/ESRI Consumer Sentiment Index shows the recovery is broadening but despite modest increases in spending power in the coming year as a result of budget measures, the finances of most remain some way off the boom time.

“The 10-year high in Irish consumer sentiment seen in November suggests the recovery is strengthening and spreading to the point where most consumers now sense it will make a difference to their financial circumstances.

“However, the 10-year peak also serves to emphasise how difficult most of the past 10 years have been for the average Irish consumer.

"Things are clearly getting better but these data don’t suggest we are witnessing a return to the boom,” said KBC chief economist Austin Hughes.

HSBC’s bi-annual trade forecast report found Ireland remains well-positioned to achieve long-term export growth to 2030.

The fortunes of the export sector will be boosted in the coming years by emerging Asian economies while our strong links with the UK and US should protect against any downturn in emerging countries.