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Consumer sentiment on the up
02 Sep 2015 19:07
Irish consumer sentiment increased marginally in August, according to KBC Bank and the ESRI in its latest monitor.
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The consumer sentiment index increased to 101.1 in August from 99.7 in July.
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It was only the third month in ten years that the sentiment reading exceeded the 100 mark.
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The increase in August reversed about half of the pullback seen in July following the nine year high of 102.8 registered in June, according to the report's authors.
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"It is clearly the case that the pronounced 'feel-bad' factor that prevailed through the recent crisis has now faded," Austin Hughes, chief economist with KBC Bank said.
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He said the monitor pointed to an improving trend, even if a range of influences were making consumers a little confused about the scale and sustainability of the economic recovery now underway.
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"The details of the August survey suggest that consumers remain relatively cautious in relation to their household finances," Mr Hughes added.
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