There was a marginal drop in consumer confidence this month, according to the latest Credit Union Consumer Sentiment Index.
However, it was well above the score of 42.1 registered in September, which marked a 14-year low in the index.
Gas prices have moderated considerably in recent weeks having hit record levels in the late summer on supply concerns after the Nord Stream pipeline was closed. "Budget support measures and comparatively favorable developments in the Irish economy combined with mild weather may have taken some of the immediate sting out of cost-of-living pressures," Mr Hughes explained.
While there was a marked rise in concerns around the employment market, it was nowhere near as large as that seen during the financial crisis when there was a sharp and sustained fall in the numbers at work in the Irish economy. "Cost-of-living and economic slowdown concerns have been weighing on the outlook for jobs through much of 2022. However, the broader health of the Irish jobs market in recent years, coupled with widespread reports of significant unfilled vacancies and skill shortages in tech-related areas, appears to be producing a more measured if still material immediate reaction to the spate of job losses seen during the November survey period," he added.
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