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Financial News: Irish Consumer Confidence Strongest Since Early 2016

Irish Consumer Confidence Strongest Since Early 2016

10/06/2017 - 01:46:00 (RTTNews)

(RTTNews) - Ireland's consumer confidence rose to an 18-month high in September largely on improved outlook on household finances, survey data from KBC Bank and Economic and Social Research Institute showed Friday.

The KBC Bank/ESRI consumer sentiment index rose to 105.8 from 102.9 in August. This was the highest reading since February 2016.

The indicator signaled that confidence among Irish households remains on a positive if somewhat uneven path.

"The September survey suggests Irish consumers may now see the economic glass as half-full but a still uncertain environment and limited gains in incomes mean it is far from overflowing," Austin Hughes, KBC Bank Ireland, said.

The index of current conditions improved to 123.4 from 117.0 a month ago. Likewise, the index of consumer expectations came in at 94.0 versus 93.3 in August.

Assessment of both past and future personal financial situation strengthened in September. The indicator for past personal financial conditions climbed to 107.5 from 103.2 and that for future financial situation rose to 122.7 from 118.2 in the previous month.

On the other hand, there was a moderate decline in expectations for the general Irish economic outlook. The corresponding index fell to 68.6 from 71.7 in the previous month.

The indicator for outlook for unemployment rose to 95.8 from 94.4 in the previous month.

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