Irish economic confidence third lowest in EU

Irish economic confidence is the third lowest in the European Union.

A new survey by the European Commission shows the positive public evaluation rate of the economy is at just 6% - in stark contrast to the 69% recorded in Denmark.

The twice-yearly Eurobarometer survey shows an 83-point drop in our evaluation of the economy in the summer this year compared to spring 2007.

However a significant section of Irish people believe the economic crisis is bottoming out and the number of people who believe the economic situation will get worse over the next year is at 22%.