Christmas spending up this year by equivalent of 1,600 per household, Ibec says

"Irish consumer confidence helped by growth of global economy"

"Retailers are in line for a bumper Christmas, with Ibec projecting a 3pc rice in consumer spending this month, the equivalent of an extra €1,600 per household."

"This is a surprising forecast by the business representative group, since there was only a 1.1pc increase last December, and that followed a giveaway budget, including one-off energy credits and double child-benefit payments."

Ibec projects a 3% rise in consumer spending this month, equivalent to about €1,600 extra per household. Retailers are poised for a bumper Christmas as consumer confidence is supported by growth in the global economy. The forecast is notable given that consumer spending increased only 1.1% last December. That smaller increase followed a giveaway budget that included one-off energy credits and double child-benefit payments. The contrast between the modest rise last year and the stronger current projection suggests a sharper uptick in household spending power and retailer demand during the holiday period.

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