Consumer confidence is at never-before seen levels significantly higher than that of neighbouring countries, a new report claims.

An increase in consumer confidence is being reflected in public spending, according to new research, carried out by the Marketing Institute of Ireland and Michael Smurfit business school.

Increasing consumer confidence and a greater availability of credit are contributing to the tentative recovery of consumer spending, according to figures released yesterday.

Pre-tax profits at the main Irish arm of Citibank declined by 15% to $823.1m (€593.2m) last year.

New research shows consumer confidence reached a six-year peak in September, returning to its highest levels since the financial crisis.

Consumer confidence has returned to boom levels, according to the Consumer Market Monitor which found that consumer confidence has returned to levels last seen in 2006.

Fears of rising costs, the property tax, and unemployment are putting pressure on people’s spending power and keeping consumer confidence low.

The total number of corporate insolvencies has increased slightly compared to last year.

A call has been made for the budget to be moved from its regular December slot, in a bid to boost end-of-year consumer spending patterns.

Consumer spending levels are set to fall by 2% as a whole for 2012 according to latest forecasts.

CONSUMERS need certainty on what’s coming down the track or else they’ll continue to keep their money stashed away.

Figures may conceal some worrying trends affecting households already under stress from unemployment and tax hikes, writes Mary Lambkin

CONSUMER confidence in Ireland is back in line with the European average as house sales increase threefold and shoppers start spending again.

CROSS-BORDER shopping cost the Irish exchequer €810 million last year, equal to 3.5% of the retail market.

SHOPPERS are relying less on plastic and switching to cash as credit card spending plunged 15% over the last year.

SPENDING on luxury items is down 40% as consumers cut back on eating out, visits to the hairdresser and shopping for clothes.

ENVIRONMENT Minister Dick Roche yesterday pledged the State would deliver more affordable homes of high quality and do so at "a faster pace" than before.

A new Government think-tank will fast-track affordable housing in the greater Dublin area, it was claimed today.

IRELAND could play host to a European equivalent of America’s heavyweight Harvard Business School if the Government invests wisely, a leading academic said yesterday.

UCD has appointed Professor Mary Lambkin as the new Dean of Commerce for the Smurfit and Quinn Schools of Business.