Consumer confidence rises for first time in months

Consumer confidence has increased for the first time since last summer, according to the latest assessment by the ESRI and IIB Bank.

Consumers had been growing steadily more pessimistic about the future of the economy since the middle of last year, with sentiment hitting a low-point before Christmas.

However, the ESRI and IIB Bank say people are now beginning to feel more confident, despite ongoing concerns about the fallout from a looming US recession.