IRISH CONSUMER SENTIMENT enjoyed one of the highest monthly boosts on record last month, according to the latest data published this afternoon by KBC bank and the ESRI.

The monthly Consumer Sentiment Index scored 59.5 in March, well up from 50.3 – with the 9.2 monthly increase the third-highest single monthly jump since the index was created 15 years ago.

The 59.5 score is also the highest score registered by the index since last August – though the current figures fall well short of the previous highs, and is down on the score from the same time last year (61.9).

The report indicated, however, that consumers “may feel the worst could be over for the Irish economy”, and said factors such as the appointment of a new government, and the fact that people are slowly becoming used to their adjusted pay packets, as potential reasons for the increase.

Scores above 50 are seen as a broad measure of possible economic growth. The long-term average of the series is 89.3.