Friday, February 1, 2008

It's Getting Bumpy

This is the moment in the flight when the voice announces that "we're experiencing a little turbulence so please remain seated and fasten your safety belt". Falling consumer confidence, falling house prices and rising unemployment are sure signs that it's going to get bumpy for Irish marketers in 2008.

Nevertheless, the Central Bank points out in its Quarterly Economic Commentary published today that consumer spending is forecast to rise from €90.6 billion last year to €96.5 billion this year. That's nearly €6 billion of extra spending. Hardly a message of doom and gloom.

So maybe we need to take Samuel Brittan's advice and 'buck up'; whilst also buckling up for the bumpy bits ahead.

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