Consumer sentiment rose to its highest level in more than three years in October, boosted by increased optimism about the economic outlook, a survey published said today.
The monthly index compiled by Dublin-based IIB Bank and the ESRI rose to 99.6 in October, up from 95.5 the month before, its strongest reading since June 2001.
However while confidence in a brighter tomorrow increased in October, Irish consumers' assessment of the current economic climate is not as rosy.
According to IIB's chief economist, Mr Austin Hughes, the survey's mixed results reflect the current state of the Irish economy.
A strengthening jobs market and the continuing buoyancy of the housing market have under pinned confidence in the future but this optimism has not yet translated into a palpable improvement in spending power.