DAVY VIEW

This morning’s ESRI/KBC Consumer Confidence survey for August shows a very sharp decline, down to 77.2 from 85.5 in July — now at its weakest level since 2013, no doubt reflecting Brexit fears resurfacing. However, core retail sales volumes were up 4.2% in August. So until, and if, Brexit starts to affect Ireland’s labour market performance, retail spending should stay resilient.