Consumers more positive about personal finances

Irish consumers are feeling slightly more positive about their finances.

IIB Bank is reporting the first rise in consumer sentiment since the beginning of the year.

However, it is just a slight increase of three points, and follows a sharp decline in sentiment since the spring.

Chief Economist with IIB Austin Hughes has said there are a number of reasons for the change.

"I think there were three reasons why consumers were slightly less gloomy in August. There were big bargains to be had because retailers had to slash their prices in summer sales, we saw a sharp drop in oil prices and the European Central Bank has called of the threat of further interest rate increases," he said.