Jobs mood at 2-year low

Brexit is not being viewed as an immediate threat to Irish consumer confidence, a survey has suggested.

While the latest KBC Bank Ireland/ESRI consumer sentiment index shows a marginal decline for July, the slip was more closely linked to concerns over Irish economic growth and the domestic labour market.

“While the UK referendum result has had a dramatic impact on financial markets and prompted an exceptional amount of media commentary in Ireland and elsewhere, the immediate implications for the average Irish consumer might be seen as notably less concrete than other developments that typically weigh on sentiment, such as news of major job lay-offs or the prospect of looming changes in key areas of public spending or taxation,” said KBC Ireland chief economist Austin Hughes.