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CONSUMER CONFIDENCE IN Ireland has hit its highest level since the recession and we are now the fourth most confident country in Europe.
That’s according to the latest Nielsen Global Survey of Consumer Confidence and Spending Intentions.
It measures attitudes on topics including personal finance and job prospects each quarter.
Ireland’s consumer confidence index score hit 102 in the second quarter of 2017, up two points from Q4 2016, and its highest level since Q4 2007 when it stood at 108.
A score over 100 indicates degrees of optimism, while below 100 signifies degrees of pessimism.
Irish confidence overtook the UK’s (which now stands at 99) for the first time in nearly nine years.
In Europe, only Denmark, Turkey and Germany are more confident than Ireland. The Philippines has the highest score globally (130), while Greece has the lowest (52).
Irish trends
Some 58% of Irish consumers are feeling positive about their personal finances and job prospects, the highest levels since the recession.
Click here for a larger image of the above table.
Meanwhile, 67% have changed spending habits to save money and 44% feel now is a good time to make purchases, the second highest level since the recession.
The index also found that 35% of Irish consumers have switched to cheaper grocery brands to save money – an activity that is often regarded as a barometer of consumer sentiment and behaviour. That’s the lowest percentage since the recession.
Nielsen’s commercial director in Ireland Matt Clark said: “Increasing consumer confidence has been a continuing trend in Ireland over the last few years due to a steady improvement in the Irish economic situation.
This increase in confidence has translated to consumers spending more on groceries, driving both volume and value growth in the sector, which is good news for Irish manufacturers and retailers.
The scores are derived by measuring attitudes among more than 30,000 internet consumers in 63 countries.
Ahhhhhhh its a great little country ain’t it. No future for any young person/s looking to get on the housing ladder. Because when ye eventually get the holy grail loan approved ye be gazzumpd by the the very people who offered ye the house in the first place.KIP.
The Davos Wokes, of which Leo is a ‘young global leader’ have told you straight up that you will own nothing and you WILL be happy about it. What part of this is confusing or continually a surprise for people?
No way. Who would have thought that if you price gouged people, they wouldn’t have money to spend in the local economy? Well, colour me surprised.
@Ciaran Burke: yep, the best time to by a house is now, as the property gurus would say…
This is where the government will stand in and pay the rest so they can take equity and keep the prices high for their developer friends.
Ireland is overrated!
@marian: Well the comments section would give you the impression it’s a third world country
@Mickety Dee: well if you look at our housing and health depts, it keeps going the way it is it won’t be far off.
@Mickety Dee: When you look at the infrastructure and the health system, Ireland is closer to African countries than to continental Europe. The quality of life is higher than in most EU countries, but the standard of life is much lower.
Never had an issue with the health department.
Apart from the occasional wait in A&E – longest was 10 hours, while annoying, was totally understandable due to patient prioritisation.
Yes there’s too many managers, yes money gets wasted, yea, the staff are underpaid & overworked, but when you think of the volume of people they’re seeing, it’s probably not that much based on percentages.
No one can solve the Housing crisis until the promised Referendum on Housing is run and passed asap.
There is no provision in the Irish Constitution, unlike other advanced democracies, on the importance of affordable and secure housing ownership or rental and this is having dreadful consequences on many ordinary people who are left without the security of their own home.
The Referendum must be run asap to enable all the legislation needed to remove the barriers to affordable homes. VAT alone is €28,000 on a new home – obscene. 37% of the price of new homes is “artificial” and can be removed by a Referendum.
https://www.change.org/p/irish-referendum-on-family-home-special-status
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