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Irish consumer sentiment strongest in 17 months

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Staff Writer | August 14, 2017
Irish consumer sentiment
Ireland   The consumer confidence index rose slightly

Ireland's consumer sentiment strongest in 17 months in July, survey data from the Economic and Social Research Institute and KBC Bank Ireland, showed.

The consumer confidence index rose slightly to 105.1 in July from 105.0 in June. This was the highest since February 2016.

The score was broadly stable as an improved buying climate, likely boosted by summer sales and holiday spending plans, contrasted with a more cautious assessment of household finances.

However, Austin Hughes, chief economist, KBC Bank Ireland, cautioned that the onset of back to school and other seasonal costs, coupled with likely efforts to downplay the scope for positive news in the upcoming Budget 2018 means there may be scope for somewhat weaker sentiment readings in coming months.

Hughes said Irish consumers had braced themselves for some fallout from Brexit and/or changed US economic policies but the first half of 2017 has proven notably less traumatic for the Irish economy than may have been feared.

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