Irish consumer sentiment fell for the third month in a row as fears over job security, interest rates, house prices and global stock market weakness took their toll, a new survey shows.
The IIB Bank/ESRI Consumer Sentiment index fell to 72.0 from 74.7 in July - its lowest since October 2003.
"The weakening in Irish consumer sentiment of late is notably greater than that experienced in most other countries," IIB chief economist Austin Hughes said of three successive declines since May's Irish parliamentary elections.
While consumers' perceptions of their financial situation improved in August to 92.4 from 90.8 the month before, that was not enough to offset a sharp decline in future expectations which fell to 58.2 from 63.9 in July.
Irish consumers grew a good deal more nervous about the outlook for employment in the wake of some major layoff announcements, said Mr Hughes.
Coca Cola this week became the latest in a string of multinationals to cut jobs in Ireland, while a slowdown in house building has also prompted fears of a big layoffs in the construction sector.