Squeeze on household finances hits consumer confidence
THE ongoing squeeze on household finances has hit the confidence of consumers.
The harsh Budget in October is being blamed for the dip in sentiment.
Figures out today show that the confidence of households took a big knock in November despite hitting a high the previous month.
Consumer sentiment fell to 71 in November from 76.2 in October, according to the KBC Bank/ESRI index.
Austin Hughes of KBC Bank said the fall indicated that the recovery in the economy was still fragile.
“So far this year we have seen six monthly increases in the survey, and five monthly declines.
“This is a pattern that highlights the tentative nature of the turnaround as it is being felt by the average Irish consumer,” he said.