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Irish consumer and business sentiment in August down

Christian Fernsby |
Bank of Ireland has released its latest Economic Pulse survey.

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The surveys are conducted by Ipsos MRBI on behalf of Bank of Ireland with 1,000 households and approximately 2,000 businesses on a range of topics including the economy, their financial situation, spending plans, house price expectations and business activity.

The Bank of Ireland Economic Pulse stood at 79.1 in August 2019.

The index, which combines the results of the Consumer and Business Pulses, was down 3.7 on last month and 12.2 lower than a year ago.

The Consumer Pulse came in at 76.0 in August 2019. This was down 5.5 on last month and marks a new low for the series. Brexit uncertainty is continuing to fray nerves and prompted households to further scale back their assessment of the economy’s prospects this month.

The buying mood was also softer in August despite the summer sales, whereas savings sentiment was a touch firmer. Thirity two percent considered it a good time to purchase big ticket items such as furniture and electrical goods, while 73% indicated that they are likely to put money aside in the next 12 months.

The Housing Pulse continued on its downward trajectory in August 2019, coming in at 82.1. This was 10.4 lower than last month’s reading.

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