Thursday 25 May 2017

Consumer confidence aided by sport

Recent sporting success -- including Irish performances in the Rugby World Cup, Euro 2012 qualifiers, and Dublin's all-Ireland win -- have been credited for a jump in consumer confidence.

The consumer sentiment index, compiled by KBC Bank and the Economic and Social Research Institute, climbed to 63.7 in October from 53.3 in September -- its biggest rise since July 2010.

Economist Austin Hughes said sporting success had given people a boost despite the eurozone debt crisis and job losses.

The prospect of another tough budget, with €1bn in new taxes, was also countered by this month's European Central Bank rate cuts and strong economic growth figures.

Irish Independent

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