Consumers more pessimistic about economic prospects
30/06/2006 - 12:17:48Irish consumers are becoming disillusioned by the economy, according to IIB Bank.
The bank's latest consumer sentiment index is down almost three points since last month and further falls are predicted for the coming months.
The index is a reflection of how people feel about their financial situation, as well as about the economy as a whole.
IIB Bank's chief economist, Austin Hughes, believes rising interest rates is making people worried about the general economic climate.
"There's a sense that, perhaps because of the amount of debt in the Irish economy, that a sequence of interest-rate increases could darken the economic outlook and make the jobs market a little bit poorer in the next 12 months," he said.
