Christmas spending up this year to 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."

Consumer confidence in Ireland has been supported by growth in the global economy. Ibec projects a 3% increase in consumer spending in December, equivalent to roughly €1,600 additional spending per household. Retailers are expected to benefit and face a bumper Christmas as a result. The forecast is notable given that consumer spending rose only 1.1% last December. Last December's smaller increase followed a giveaway budget that included one-off energy credits and double child-benefit payments. The contrast between the modest prior increase and the projected 3% rise underscores a stronger spending outlook for the current month.

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