Consumer sentiment became more gloomy about the economic outlook in June, after a pick-up in sentiment in May, according to a survey.
The Economic and Social Research Institute and IIB Bank survey, recorded 83.2 on the Consumer Sentiment Index, down from 85.7 a month before.
Austin Hughes, Economist with IIB Bank, said a spate of lay-offs, worries about inflation and higher interest rates combined to weaken the result.
He said recent figures, compared with those for other countries, suggested that Irish consumers were 'extremely cautious'.
Mr Hughes also suggested that the SSIA factor may be fading, as much of the money has already been spent or committed to savings.
A breakdown showed that the Index for Current Economic Conditions declined from 97.7 to 96.6.
The Expectations Index, which measures consumers' feelings about the months ahead, fell more sharply from 77.7 to 74.1.
But the ESRI's David Duffy said the average for the last three months suggested consumer sentiment was 'broadly stable'.
