Friday 30 September 2016

Maseratis, champers and holidays in the sun

Published 12/04/2015 | 02:30

We are spending more on holidays, cars, eating out and home improvements - all potent symbols of a new feel-good factor
We are spending more on holidays, cars, eating out and home improvements - all potent symbols of a new feel-good factor

We are spending more on holidays, cars, eating out and home improvements - all potent symbols of a new feel-good factor.

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Latest Dublin Airport Authority (DAA) figures show that more than 4.7 million passengers travelled through the airport from January to March this year - representing a 17pc increase, or an extra 678,000 passengers, compared to the same period last year.

Siobhain O'Donnell of DAA said the improved figures are important.

"The first thing that goes in a recession is non-essential spending. Weekend breaks abroad had fallen off a cliff but now we are seeing them coming back again.

"International flights have also improved. This summer, we will increase our flights to North America to 47 each day. That is phenomenal," she said.

CEO of Harvey Norman Ireland, Blaine Callard, says sales picked up since July.

"The Consumer Sentiment Index is very encouraging. It shows people are feeling better and that is the first step before spending returns," he said.

He says that spending patterns have changed.

"During the recession, we would have seen people replacing things as they broke, as a necessity, that made up most of the market then. Beds don't break, sofas don't break, so the downturn pretty much put a handbrake on sales in those sectors. But now we're starting to see sales pick up in these items again."

New car registrations increased by nearly 31pc in January, compared to the same month in 2014, while at the luxury end of the car market, six Italian Maserati sports saloons have already been purchased in Ireland this year.

In the drinks sector, Moët & Chandon says it are "starting to once again see a growth within our champagne brands in Ireland".

The latest Consumer Market Monitor report, which measures confidence and consumer sentiment, says that for the first time since mid-2007, more consumers expect their household finances to improve rather than worsen in the year ahead.

Sunday Independent

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