Sharp fall in consumer and business confidence due to fresh lockdown

Half of households are holding out on spending because of current Covid situation

Shoppers on St Patrick's St, Cork. Picture: Denis Minihane

Confidence among Irish consumers and businesses has fallen sharply because of the deterioration in the public-health situation and a return to Level-5 lockdown.

New data shows that more than a third of firms in Ireland expect business to decline in the next three months and 52% of households are holding out on spending, because they are not certain which way economic policy will go.