A survey which measures how consumers feel about the economic outlook steadied in November after a sharp fall in October.
The consumer sentiment index, compiled by KBC Bank and the ESRI, recorded 48.4, up marginally from October's 48.1. The all-time low of 39.6 was recorded in July 2008.
The ESRI's David Duffy said consumers remained cautious about the economy and jobs, with three out of four people expecting unemployment to rise over the next year.
KBC economist Austin Hughes said the November result was 'encouraging as well as surprising', as it hints that consumer confidence is not completely in freefall. He said it may be possible that greater clarity and certainty - though painful - about the economic and budgetary situation helped rather than hurt the mood of consumers.
But the economist said the December and January figures would reveal more about whether this month's figure represented a turning point or just a statistical correction after recent sharp falls.
