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Financial News: Ireland Consumer Confidence Strengthens For Second Month

Ireland Consumer Confidence Strengthens For Second Month

01/10/2020 - 08:15:00 (RTTNews)

(RTTNews) - Ireland's consumer confidence improved for a second consecutive month in December, driven by gains across the board as fears of a hard Brexit eased, survey data from the KBC Bank Ireland showed on Friday.

The consumer confidence index rose to 81.4 from 77.1 in November. In October, the reading was 69.5.

This was the first back to back monthly gains in the index in four years, KBC Bank Ireland Chief Economist Austin Hughes said.

The relatively modest gain suggest Irish consumers regard Brexit risks as diminished and somewhat delayed but far from disappeared, Huges noted.

That said, the somewhat more positive views on income prospects and purchasing plans may translate into stronger consumer spending over the turn of the year, the economist added.

The survey also found that one in three Irish consumers expects this year to be better than 2019 but one in five fears weaker circumstances.

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