Irish Consumer Market Monitor Q3: All measures of consumer confidence falling at an accelerating rate
Nov 10th, 2011 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
UCD Michael Smurfit Graduate Business School and the Marketing Institute of Ireland (MII) launched their Irish Consumer Market Monitor Q3 results today which show that all measures of consumer confidence have seen a definitive decline, and at an accelerating rate. General consumer spending in the Irish economy, which accounts for 50% of overall GNP (gross national product), is maintaining a downward trend this year. Spending was down -2.9% in Q1, -2.4% in Q2 with the official forecast now for a decline in real personal consumption of -2.6% overall for 2011. A further decline of -0.8% is expected in 2012.