Further indicators of improving consumer confidence

Confidence reached a six-year high in September

The Consumer Market Monitor shows 4,735 used cars were sold in September, an increase of 60 per cent on September last year. Photograph: Reuters

The Consumer Market Monitor shows 4,735 used cars were sold in September, an increase of 60 per cent on September last year. Photograph: Reuters

 

Consumer confidence reached a six-year high in September, despite concerns about the impact of the property tax and pay cuts on household finances.

According to the Consumer Market Monitor at UCD Michael Smurfit Graduate Business School and the Marketing Institute of Ireland, confidence reached a six-year peak in September, attributed to positive news in jobs and property markets.

Earlier figures from the KBC Bank Ireland/ESRI Consumer Sentiment Index also pointed to improving consumer confidence and six-year highs in
September.

The market monitor shows 4,735 used cars were sold in September, an increase of 60 per cent on September last year. While lending for house purchases was steady in the third quarter, it was up by 2 per cent in September compared to the previous month.

Prof Mary Lambkin, one of the authors of the report, said the increase in car and property sales in recent months was a positive sign.

She said the earlier budget, and continuing improvement in employment data, should help to ensure that confidence stays upbeat in the final quarter of the year.