Consumer sentiment on mend even before restrictions ended

Survey shows a bounce back from the depths last month when the Government's 8pm closing restrictions for pubs and restaurants were first imposed

Economists are wondering how quickly Irish households will spend down an estimated €7bn in excess savings that have cumulatively been built up over the past two years of the pandemic.

Irish consumer sentiment was already on the mend even before last weekend's lifting of almost all of the Omicron restrictions, boding well for spending to drive the economic recovery this year and in 2023, a major survey survey reveals.

The reading of consumer confidence on the regular KBC Bank monthly survey showed a bounce back from the depths last month when the Government's 8pm closing restrictions for pubs and restaurants were first imposed.