Ireland: Consumer confidence falls sharply in September
October 2, 2012
In September, the KBC Bank Ireland/ESRI Consumer Sentiment fell 9.8 points over the previous month to 60.2 points, which contrasted the 2.3-point increase observed in August. As a result on the monthly decrease, consumer confidence hit its lowest level since February. According to the survey, "the September survey suggests the fear factor has returned as consumers worry about the possible impact of another severe Budget on already strained household spending power". The consumer expectations index deteriorated over the previous month, suggesting worse prospects over the next 12 months. Moreover, the current economic conditions index fell in September, as consumers have become more negative about their current financial situation, as well as about their ability to purchase durable goods.