Consumer confidence rises in April
Irish consumer confidence rose last month to the highest in more than two years, adding to evidence the economy may be emerging from its worst recession on record.
The consumer sentiment index increased to 65.6, the highest since January 2008, from 61.9 in March, KBC Ireland and the Economic & Social Research Institute in Dublin said in a statement today.
“The improving trend in consumer sentiment of late suggests consumers sense the Irish economy has reached a turning point,” KBC Ireland chief economist Austin Hughes said.
“For many, conditions are likely to remain tough for some considerable time but there is a sense that a significant number feel the worst is over.”
Ireland’s economy will return to growth in the second half of this year after shrinking 7.1pc in 2009, the Government forecasts.
Retail sales rose in March for a second month, while manufacturing growth accelerated in April.
A gauge of consumer expectations rose to 53.7 from 44.5, KBC said. At the same time, a measure of how consumers view their current situation fell to 83.4 in April from 87.6 in March.
- Colm Heatley
© Bloomberg
