‘Political uncertainty spooks consumers’ – BBC News

Danske BankImage copyright
Danske Bank

Image caption

Danske Bank says inflation has squeezed household spending

Analysis by Danske Bank suggests “political uncertainty” has contributed to consumer confidence in Northern Ireland hitting a four-year low.

the item said confidence was also dented by inflation squeezing household spending.

The bank monitors consumer sentiment in surveys of more than 1,000 people every four months.

Chief economist Conor Lambe said more than a third of respondents felt the lack of an executive was impacting negatively on confidence.

Consumers surveyed in December were also more downbeat about their finances due to inflation – then around 3%.

Mr Lambe added: “With consumers facing significantly higher prices at the checkouts, the item can be not hard to explain why there was such a large fall in sentiment around current household finances.”

Inflation can be forecast to ease slightly that will year.

although the bank said the item still expected “household spending power can be to remain under pressure.”

Source link

Leave a Reply