Consumer Sentiment increases in September

The overall KBC Ireland/ESRI Consumer Sentiment Index increased in September to 92.8, from 87.1 in August. The 3-month moving average rose to 89.8 in September, from 85.9 in August.

Commenting on the results, Ciara Morley, ESRI, said:

• "Consumer Sentiment in September returned to levels not seen since January 2007. The increase is broadly based, being driven by improving expectations for the year ahead and improving perceptions of the current economic environment."

• "The index of current economic conditions increases to 103.3, from 98.3 in August. After a brief drop in August, most likely due to the end of the summer sales, households are now more positive about the current buying climate."

• "The index of consumer expectations rose in September, to 85.7 from 79.6 last month, as households now have a more positive perception of the economic outlook for the next year. Households continue to feel positive in their views of the labour market and in their expectations for their financial situation over the next 12 months."