Consumers are at their most confident level since January 2007. That is according to the latest sentiment index from KBC Bank and the ESRI.
It shows it rose by 1.9 points in April compared to March, which is the 4th consecutive monthly increase.
But chief economist at KBC Austin Hughes says the debate over the Fiscal Treaty referendum could dampen people’s spirits going forward.
“Consumers dislike uncertainty – so anything about the referendum that suggests the future is more uncertain will probably hit confidence” he said. “I think the critical element that we’re seeing from sentiment over the last couple of months is that consumers are gradually moving a little bit higher, looking over the parapets”. “It’s not that they’re really optimistic about the future – it’s just that they’re a little bit less terrified” he added.