Consumer confidence down in December
IRISH Consumer confidence took a walloping in December and plunged to its lowest levels since the depths of the financial crisis according to newly published figures. The results from the latest Consumer Market Monitor - compiled by UCD Smurfit Graduate Business School and the Marketing Institute of Ireland - show that in the last three months of 2011, consumer confidence dropped dramatically nationwide and and was down 28 per cent from the middle of last year. The December figure of -32 was on par with the lowest point in consumer confidence registered in the depths of the financial crisis in 2008 and 2009. The figures show that consumer spending continued to trend downward last year, declining drastically in the last quarter. Retail sales also declined in the year, with drop in volume of 2.7 per cent and a drop of 1.8 per cent in value.
