Consumer confidence in Ireland has hit its highest level since the recession and is now the fourth most confident country in Europe, according to the latest Nielsen Global Survey of Consumer Confidence and Spending Intentions.
 
The Republic of Ireland’s Consumer Confidence Index score – which measures attitudes each quarter on topics including personal finances and job prospects – hit 102 in the second quarter of 2017, up 2 points from the fourth quarter 2016, and its highest level since the fourth quarter 2007 when it stood at 108. A score over 100 indicates degrees of optimism, below 100, degrees of pessimism.
 
In Europe, only Denmark, Turkey and Germany are more confident than Ireland. The global Consumer Confidence Index stands three points above Ireland at 105, whilst Europe’s is 85. Irish confidence overtook the UK’s (which now stands at 99) for the first time in nearly nine years.

According to the study, Irish consumers feeling positive about their personal finances hit its highest level since the recession (58%). Additionally, Irish consumers feeling positive about their job prospects stayed at its highest level since the recession (58%) – the fifth highest in Europe.  

Commenting on the figures, Nielsen's Commercial Director in Ireland, Matt Clark said, "Increasing consumer confidence has been a continuing trend in Ireland over the last few years due to a steady improvement in the Irish economic situation. This increase in confidence has translated to consumers spending more on groceries, driving both volume and value growth in the sector, which is good news for Irish manufacturers and retailers."
 
Source: www.businessworld.ie