Shoppers are set to spend less this Christmas as consumer confidence has taken a hit in November.
According to the KBC Bank Ireland consumer sentiment index only one in eight consumers plans to spend more this Christmas than last, while one in three expects to spend less.
Austin Hughes Chief economist with the bank says increased living costs and numbers of Covid cases are to blame.
"With concerns around Covid, living costs generally, property prices specifically, the cost of heating the cost of fuel, all these areas are definitely dampening the Christmas mood for consumers.
"We see consumers being a fair bit more cautious in their outlook."
