Consumer spending steadies in December

Consumer sentiment stabilised in December after a sharp improvement in November.

The overall Consumer Sentiment Index (CSI) stood at 78.3 in December, compared to a figure of 78.2 in November.

The corresponding figure for December 2002 was 63.8.

The three-month moving average rose to 75.3 from the 71.9 recorded in November.

The three-month moving average stood at 65.4 in December 2002.

The CSI is a monthly electronic report produced jointly by the ESRI and the IIB Bank.

It gives a broad indication as to consumer spending habits which are seen as an important element of economic growth.