Ah, that slightly delirious Consumer Confidence data from Ireland keeps getting more and more delirious. April reading for the ESRI-compiled, KBC-sponsored, Consumer Confidence indicator was 98.7, up on 97.8 in March and the second highest reading since January 2005. The highest was in January 2015.
So now we have: on a 3mo average basis, 3 months through March, retail sales shrunk 0.2% in value terms and rose by 1.07% in volume terms. But in 3 months through April 2015 consumer confidence was up 5.7% (we have data lags here, so looking at latest data). And it gets worse: compared to January 1, 2015, retail sales by value are up 1.4%, down by 0.74% in volume, and consumer confidence is up 9.1%.
Hopium deliveries going strong nowadays...
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