Consumers' perception of their current situation improved sharply in January, according to figures published by the ESRI this afternoon.
The overall Consumer Sentiment Index stood at 85.7 in January, compared to a figure of 78.3 in December.
The corresponding figure for January 2003 was 64.5. The 3-month moving average rose to 80.8 from the 75.3 recorded in December. The 3-month moving average stood at 64.9 in January 2003.
The Consumer Sentiment Index comprises two sub-indices; An index of consumer expectation that focuses on how consumers view prospects over the next 12 months and an index of current economic conditions, focusing on the present situation.
The ESRI says the improvement was due to positive attitudes of consumers to major purchases.