Industry & Business

Uncertain Economic Outlook Keeps Irish Consumers Cautious

 Breaking News
  • Lidl Ireland and Buymie Expand Services into Counties Kildare and Wicklow Lidl Ireland has announced the expansion of Buymie services to customers in counties Kildare and Wicklow. In January, Lidl Ireland formed a partnership with Irish start-up Buymie, which provides a personalised online grocery delivery service, delivering in as little as an hour. Offering Buymie services to towns Maynooth, Celbridge, Leixlip, Bray and Greystones, will give 40,000 local households an online [...]...
  • Equinix Unveils Virtual Network Services on Platform Equinix Equinix, Inc, the global interconnection and data centre company, has announced the next phase in the evolution of Platform Equinix® with the unveiling of Network Edge services, a new product innovation enabling companies to modernise networks virtually, within minutes, by deploying network functions virtualisation (NFV) from multiple vendors to connect their digital supply chains at Equinix. Designed to accelerate digital transformation [...]...
  • SaaS Firm Futrli Announces £5.5 Million Delivery Centre in Belfast Great Britain-based Futrli is to invest almost £5.5 million in a new delivery centre in Belfast, with 80 new jobs to be created over three years, more than doubling its headcount. Established in 2014, Futrli supports over 1,200 accountancy firms and 45,000 small businesses globally with software as a service (SaaS) products. The latest, Futrli [...]...
  • Climate Action Plan Launched The Government has published the Climate Action Plan, designed to give Irish people a cleaner, safer and more sustainable future. The far-reaching plan sets out over 180 actions, together with hundreds of sub-actions, that need to be taken at a time when the warning signs are growing, and the time for taking action is rapidly reducing. At [...]...
  • Strencom Invests in VMware Cloud-based Disaster Recovery Service Strencom, the Irish managed connectivity and cloud computing provider, has announced that its Point ‘N’ Click public cloud service has attained VMware Disaster Recovery as a Service™ (DRaaS) Powered status. Strencom has invested €250,000 in the service – building an advanced technology infrastructure as well as investing in new staff and employee training. Point ‘N’ Click [...]...

Uncertain Economic Outlook Keeps Irish Consumers Cautious

Uncertain Economic Outlook Keeps Irish Consumers Cautious
December 02
13:28 2016

Irish consumers have remained cautious in the face of uncertain economic conditions, contrasting with changing attitudes in other areas, according to the November Consumer Sentiment Index, released by the ESRI on Thursday, December 1.

The consumer sentiment index rose slightly to 97.8 in November, compared with 97.3 in October. However, it remains lower than the 103.1 recorded in November 2016.

The details of the November survey hint that Budget 2017 may have been seen as offering some support to household spending power but this impact was relatively modest and largely offset by concerns about the broader economic climate. The broader message of the sentiment index is that Irish consumers are having considerable difficulty in assessing the extent to which their circumstances might improve or worsen in the coming year.

Commenting on the report, the ERSI wrote: “November saw the largest monthly increase in US consumer sentiment since December 2013.  This largely reflected a jump in expectations about the future in the wake of Donald Trump’s Presidential election victory and, as such, underscores the sense of detachment many consumers have felt from an improving US economy in recent years and the associated appeal of ‘populist’ rhetoric.

“In contrast, UK consumers became notably gloomier in November, with the GFK index posting the second largest monthly drop (after July’s post-referendum slump) since November 2012. This seems to reflect a notably more pessimistic view of UK economic prospects over the next twelve months that likely owes something to fears of notably higher inflation and correspondingly diminished purchasing power as well as growing uncertainty about the precise exit path for the UK from the EU.”

About Author

editor

editor

Related Articles

New Subscriber

Subscribe Here



Advertisements





















National Manufacturing Conference & Exhibition 2018

NIBRT Springboard Success Stories



Upcoming Events

  • No upcoming events
AEC v1.0.4