Economic Pulse shows Irish economy recovering following Brexit vote

Business sentiment is up - but consumers feel cautious...

Sentiment across Ireland's consumer and business sectors improved during October, according to the latest Bank of Ireland Economic Pulse.

The index rose to 94.5 - that's 4.1 points higher than September.

Today's data reflects the economic reaction to Brexit's fallout and Budget 2017. October offered the most positive reading since the UK voted to leave the EU.

Bank of Ireland reports that consumer sentiment softened during the period - with the average household feeling less positive about the outlook for the economy, although (paradoxically) most respondents feel more upbeat about their own finances.

Dr Loretta O’Sullivan, Bank of Ireland's Group Chief Economist commented: "The Economic Pulse picked up in October and has now recovered around one third of the ground it lost in July following the UK’s decision to leave the EU."