Worried Retailers

Though consumer confidence gets most of the attention in the media, retailer confidence is often a better indicator of what's happening on the consumer 'front line'. So it is with some concern that we note that Ireland's Retailer Confidence Index plunged last month from a less than cheery score of -11 in December 2007 to a frankly gloomy score of -20 in January 2008.

The single biggest driver of the fall in January was the outlook for sales over the next three months. This particular score (a component of the overall retail confidence index) fell to -31, the gloomiest score of any EU country surveyed, and the lowest Irish score since July 2003 (itself the lowest score since Irish retailer surveys began in November 1997).

Expect to see a lot more 'Sale' signs over the next few months.