Ireland: Consumer confidence deteriorates in August
August 24, 2020
The KBC Bank Ireland/ESRI consumer confidence index came in at 58.9 in August, down from July's 62.6 and marking the first drop in confidence in three months. Consequently, the index moved further below the 100-threshold separating pessimism from optimism among consumers.
August’s decline reflected a broad-based deterioration across indicator components, owing to renewed concerns over stricter Covid-19 measures and rising fears over the re-imposition of restrictions. Moreover, consumers’ outlook for unemployment turned more pessimistic compared to the previous month, while their expectations regarding their personal financial situation deteriorated further.