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Tuesday 20 March 2018

Consumer confidence at pre-crash levels again

(Stock image)
(Stock image)
Charlie Weston

Charlie Weston

Consumer confidence has hit a high last seen before the financial collapse, a new survey claims.

International media measurement firm Nielsen found consumers in this country are more confident than those in Denmark, Turkey and Germany.

The Irish consumer confidence index score measures attitudes each quarter on topics including personal finances and job prospects.

It hit 102 in the second quarter of 2017, up two points from the last three-month period of last year.

The confidence index is at its highest level since the end of 2007, when it stood at 108. That was when the financial collapse in this country began.

A score of more than 100 indicates degrees of optimism, a score below 100 indicating pessimism, Nielsen said.

Confidence among consumers in this country was now higher than in the UK for the first time in almost nine years.

Consumer confidence was higher than across Europe in the April-to-June period.

According to the survey, 58pc of consumers in this country feel positive about their personal finances. A similar proportion feel upbeat about employment opportunities.

Four out of 10 of those surveyed said they consider now a good time to make purchases. This is the second highest reading since the downturn.

Nielsen's commercial director in Ireland, Matt Clark, said increasing consumer confidence was due to a steady improvement in the Irish economic situation.

Irish Independent

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