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03.05 - 15:05
Consumer spending could plunge as much as 40% - Central Bank
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Spending by consumers in the economy could be a massive 40% down this month compared to last year, according to research published today by the Central Bank.
The new research also shows that job vacancies in Ireland are on average almost a third down on a year ago. The Central Bank has today lifted the bonnet on the economy's engine to give us a snapshot of the fast changing reality of the Covid-19 pandemic.
It is working on developing a number of real-time indicators of economic developments during the current crisis. Using credit and debit card records, the Central Bank reveals that initially there was a surge of 22% in card transactions as consumers spent an extra €42m - mostly on stockpiling groceries - at the start of the coronavirus
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COVID-19
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