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SNA - Snap-On Inc News Story

$211.12 1.1  0.5%

Last Trade - 03/12/21

Sector
Industrials
Size
Large Cap
Market Cap £8.57bn
Enterprise Value £8.95bn
Revenue £3.46bn
Position in Universe 878th / 7306

Irish consumer confidence hits 23-month high on reopening optimism

Fri 21st May, 2021 12:01am
DUBLIN, May 21 (Reuters) - Irish consumer sentiment improved
in May to its highest level in almost two years, a survey showed
on Friday, buoyed by declining incidences of COVID-19,
increasing vaccinations and the further planned reopening of the
economy.
    The KBC Bank Ireland consumer sentiment index rose to 85.8
in May from 77.9 in April, its strongest level since June 2019
and broadly in line with the 25-year series average of 86.8.
    Ireland has gone from having one of the highest COVID-19
infection rates in Europe in January to one of the lowest. 
    The government nevertheless opted for a relatively slow
unlocking of the economy from lockdown, with non-essential
retail reopening in mid-May, and hospitality only due to resume
on a phased basis from June. 
    "The May survey saw all five main elements of the consumer
sentiment index post meaningful gains on their readings in the
previous month," KBC Ireland chief economist Austin Hughes said.
    "The sharpest improvement was in relation to employment that
presumably was driven by the prospect of a return to work in a
range of sectors."
    Hughes warned that Irish consumers remain relatively
cautious about their personal financial circumstances, with one
in four feeling their financial circumstances had worsened in
the past year.
    That suggested "a level of spending in coming months that is
healthy rather than white hot," he added.   

 (Reporting by Graham Fahy; Editing by Padraic Halpin and Peter
Cooney)
 ((graham.fahy@thomsonreuters.com;))
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