'Negative influence' of political deadlock and Brexit
- Published
Brexit and the political stalemate are affecting household spending plans in Northern Ireland, according to research by Danske Bank.
The bank said consumer confidence also fell in the second quarter of 2018.
That fall in confidence reversed a more buoyant mood seen at the start of the year.
The survey of a thousand people in June aimed to provide a snapshot of feelings about current finances, job security and future spending.
Bank economist Conor Lambe said it was clear Brexit and the absence of an Executive were "negatively influencing" consumer expectations.
"Despite expectations that inflation should gradually fall towards 2% and that wage growth will be higher, consumers are still downbeat about their future finances.
"Despite the fall in confidence, our survey did reveal some good news.
"Eighteen per cent of respondents identified rising wages as the factor having the largest positive impact on confidence, suggesting that the relatively strong performance of the local labour market is putting upward pressure on wage growth."
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