| 11.4°C Dublin

Water charge worries blamed for dip in consumer confidence

Close

Water charge protest in Dublin

Water charge protest in Dublin

Water charge protest in Dublin

Worries about water charges are being blamed for a dip in consumer confidence.

The consumer sentiment index dropped from a near eight-year high of 92.8 in September to 85.5 last month, according to compilers of the data KBC Bank Ireland and the Economic and Social Research Institute.

Close

A crowd of more than 4,000 took to the streets of Sligo. Photo: James Connolly

A crowd of more than 4,000 took to the streets of Sligo. Photo: James Connolly

James Connolly / PicSell8

A crowd of more than 4,000 took to the streets of Sligo. Photo: James Connolly

KBC Bank said it was not clear what exactly caused the mood of consumers to darken but concerns in relation to water charges could have played a role.

Economist Austin Hughes said: “The results are also consistent with many consumers’ experience of a recovery that they hear and read to be very healthy but one which they are not feeling in their personal finances.”

He said that the drop in Irish consumer sentiment in October is the second biggest monthly fall in the past 22 months and bears many similarities to the slightly larger 7.8 point drop in the index seen in May.

He added that having two such falls in six months is quite surprising and that sampling vagaries and volatile circumstances may have played some role.

Online Editors