Consumer Sentiment hits 4 year low

RTE reports that the Consumer Confidence Index has hit a four year low. Austin Hughes suggests that gloomy forecasts are to blame.

I thought that the SSIAs were going to add that extra bit to the property market & that the spending splurge would keep the economy ticking over until the end of the decade.

I know how Austin feels, we have the best economy in the world (ref: B.Ahern), second richest country in the world (ref: BOI/Dr Dan) and a favourable demographic profile (ref: NCB stockbrokers) and we will quadruple our population over sometime in the future (ref: Mark Coleman), how come there are any gloomy forecasts when it is all rosy in the garden. I think B.Ahern had some good advice for these naysayers a few weeks back

for all those pessimists on the PIN
read it and weep - we’re back baby!!!

I did a search on the PIN and this is only Consumer Sentiment link that came up, is there a more recent one I could append to?

Guess that means house prices will start increasing now :angry:

Erm, I don’t believe that a value above 50 indicates expansion. I don’t think it is that sort of index. The current value is below the value for March last year, suggesting that there are seasonal factors at play. “Thank fuck the winter is over” is rarely captured in economic surveys, but this may just be one of them. Anticipation of the spring selling season and its effect on asking prices is another similar bounce…

edit: official link … sentiment/

The tone of the title of that article (Sharp Rise In Irish Consumer Sentiment In March) and the tone of the text are almost perfectly diametrically opposed to one another.

People pretty much stopped buying shit for the last three years - there was always going to be some pent-up demand as people generally won’t put off buying that new car or flat screen TV indefinitely. I don’t know anyone who changed a car in 2009 or 2010, but know quite a few who have done so this year.