Saturday, January 15, 2011

15/01/2011: Consumer Sentiment in Ireland

Per this week's data release by the ESRI, Irish consumer confidence suffered another set back in December 2010 - updated chart:
Overall, Consumer Sentiment Index declined to 44.4 in December from 48.4 in November, and relative to 53.3 in December 2009. The November reading remains above the all time low in July 2008 of 39., but way below 67.9 local peak achieved back in July last year.

The decline in index was across the board with
  • a strongly negative move in the Index of Current Conditions - to 68.5 in December, compared with 76.6 in November, and
  • Expectations index staying at 28.1, down from 29.4 in November.
According to the ESRI: “The majority, over 70 per cent [would have been nice to put an exact number here, but what can you expect - it's ESRI], of reported that their finances had worsened rather than improved during the past year.”

All thanks for that to Leni & Co for spectacularly reducing middle class' disposable incomes to bail out systemically unimportant banks and public sector elites.

1 comment:

Fungus FitzJuggler III said...

History show that the middle classes do recover, but only if they organize, which the Irish seemingly will not!

The disease is credit and greed. The cure is work and respect for one another, dare I say love?

The Irish have shown themselves to be very shallow!