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Muted consumer sentiment… December 4, 2019

Posted by WorldbyStorm in Uncategorized.
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Thought this was interesting. There’s been a recovery in consumer sentiment – from a remarkable seven year low, in November. That low was driven by Brexit worries, rather than economic. And the recovery is similarly driven by Brexit hopes. Though it’s not a massive recovery.

That [recovery] was back to the level it stood at in August but still well below its reading of 96.5 a year ago. 

“While official data published through the survey period point towards rising incomes and subdued inflation, we think the main driver of the change in November was a scaling back of Brexit worries,” KBC Bank Ireland’s chief economist Austin Hughes said. 

And a knock on effect?

Mr Hughes said the improvement was most marked in the survey’s forward-looking readings and while that reflected an easing in worries rather than “a sense that all is wonderful”, it may translate into healthier spending during the Christmas period.

Not exactly stellar, is it? But then this often does not feel like a prosperous society, whatever sections of the media might assert.

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