Growth in spending on houses and cars as consumer confidence increases

Consumer spending showing signs of modest growth amid rapid increases in spending on “big ticket” items such as houses and cars.

The quarterly Consumer Market Monitor (CMM), by The Marketing Institute of Ireland and UCD Michael Smurfit Graduate Business School, reports that 114,446 new cars were licensed in the first nine months of the year — an increase of 31%, while 21,876 residential properties were sold in the first half of 2015, also up 31%.

The increase in property sales is also reflected in the growth in spending on household goods.