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CONSUMER SENTIMENT FELL sharply last month to its weakest level since February, according to figures from KBC Bank and the ESRI.
The overall consumer sentiment index declined from an almost five year high of 70 in August to 60.2 in September.
Experts said some of the decrease was due to “intense speculation” about the budget and potential cuts to social welfare and health spending.
All components of the index were weaker last month bu the ESRI said the main declines were in consumers’ view of the outlook for their household finances over the next 12 months and their view of the economic outlook for the next year.
The index of consumer expectations also declined from 61 in August this year to just 48.6 last month.
Commenting on the results, Austin Highes of KBC Bank said while the figures were disappointing, they are not “entirely surprising” as the improvement in confidence recently was tentative and fragile.
“It has been built largely on a gradual easing in concerns in relation to the Irish economy and household spending power rather than any dramatically positive news”. he said. “Unfortunately, the September survey suggests the fear factor has returned as consumers worry about the possible impact of another severe budget on already strained household spending power.”
Hughes said the data would suggest that the government should attempt, in so far as possible, to reduce uncertainty around the budget and spending cuts.
“In highlighting the fragility of sentiment and spending power, the September results also argue that the upcoming budget should seek the minimum adjustment consistent with Ireland’s adherence to the EU/IMF adjustment programme,” he added.
Well we can all sleep peacefully now that that’s sorted.
Not the best comparison really considering he retorted with a figure for the domestic market rather than all operated markets combined.
The greed of the music companies is line one endless stream. The artists complaints are a joke. Plays on Spotify are like having your ads paid for
Streams on Spotify are a pittance and a poor source of income for musicians. More power to her if she wants to remove her music from Spotify. She clearly doesn’t need it as she’s by far the best selling artist this year.
Taylor Swift and her record company are just in it for the prestige of record breaking sales and the history books, not people who listen to the music. Nowhere is questioned what is better for the consumer (or fans as they used to be known)?
Spotify has obviously not cannibalised the album buying public, as her album has one of the highest number of record sales, which is in addition to any income from streaming and video services.. Spotify replaces the radio, not albums sales, and it gives people to opportunity to spend a small amount to listen (not own) music for a low cost. But not low enough that If all you wanted to listen to was taylor swift, then you could buy her back catalogue for less than a few months of spotify.
What the record company don’t get is that the spotify income, small as it is compared to if everyone who listened to a track bought the album instead, is a top up from people who would just download it from a torrent, or listen to it on the radio. It is never about being paid for their work, as she has the highest income per effort in the world, but instead just making sure parents pay what a record company exec told her each fan was worth.
She is probably the most popular pop artist out there at the moment and she would only make €400k/year on Spotify? Most artists must only be making pennies on it
I like her songs.
don’t know why. but her and her songs really annoy me, even more than Cheryl cole
Oooooh no, she only earned €398,000 in the last 12 months. Boo focking Hoo.
Taylor Swift and music in the same sentence . . . ? Jaysus.
Nope.
Maybe?
Depends!
On?
have your say