Consumer confidence at lowest level in four years

Consumer confidence in Ireland is at its lowest level in four years, according to the latest assessment by the ESRI and IIB Bank.

The two organisations say the latest decline reflects growing concern at the outlook for the economy in general and the housing market in particular.

IIB chief economist Austin Hughes says it appears consumers are bracing themselves for a long period of sluggish economic growth, worsening job prospects and weak property values.