Recovery still missing ‘feelgood factor’, says survey

The economic recovery is still failing to generate a “feelgood factor” because household incomes are not rising significantly, according to the country’s leading consumer sentiment survey.

The latest report from KBC Bank and the the Economic and Social Research Institute (ESRI) found its consumer sentiment index slipped in May to its weakest level since last December.

“While Irish economic conditions are improving, this is not translating into broadly based and palpable gains in consumers’ financial circumstances,” said KBC chief economist Austin Hughes. “In turn, this means that sentiment and household spending lack a feel-good factor that would encourage sharper increases in these areas.”