Consumer confidence rise bucks EU trend

CONSUMER confidence in Ireland bucked the European trend showing a slight rise in March compared to a decrease in the rest of the eurozone, two separate surveys published yesterday reveal.

The overall IIB Bank/ESRI Consumer Sentiment Index for Ireland was 62.8 in March, up from 62.3 in February. A European Commission (EC) survey of 25,000 consumers showed a confidence index drop to -21 from February’s -19 in the 12 euro countries.

The EC’s economic sentiment indicator (ESI) fell by .6 percentage points for the EU as a whole and by .4 percentage points for Ireland, increasing the risk of recession.