Consumer sentiment more gloomy in Dublin, index shows

Consumer sentiment was "notably more gloomy" in Dublin at the end of the year, according to a regional breakdown for the fourth quarter of 2016 by KBC Bank Ireland and the Economic and Social Research Institute (ESRI).

KBC Ireland chief economist Austin Hughes said the weakening in sentiment had been far sharper in the capital than elsewhere in the State.

Dublin consumers “may be more sensitive” to uncertainty about the global economy than their counterparts in the rest of Ireland, Mr Hughes said.

Pressure on accommodation in Dublin may be contributing to poor sentiment, he added, while the comparative resilience of consumer confidence outside Dublin could also stem from a broadening and strengthening of the domestic economy last year.

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The Dublin consumer sentiment index fell to a reading of 137.8 in the final three months of 2016, down from 150.1 in the third quarter. While sentiment also eased back in the rest of the State, the drop was relatively modest from 154.2 to 151.5.

Consumer sentiment in Dublin in the fourth quarter was at its weakest level in two years, with the gloom extending to their outlook for their own personal finances.

“Dublin consumers may be marrying the risks from a possibly more hostile global environment to more localised concerns about their own standard of living,” Mr Hughes said.