Ireland: Consumer confidence dives to near six-year low in August
September 10, 2019
The KBC Bank Ireland/ESRI consumer sentiment index fell from 85.5 points in July to 77.2 points in August—the weakest level since November 2013.
August’s dive into deeper pessimistic territory was largely driven by consumers’ increased concerns over job losses ahead, lower expectations of their personal finances and weaker outlook for the Irish economy amid rising fears over Brexit. Meanwhile, although households’ willingness to purchase big-ticket items remained in positive territory, this element was also downgraded in August, suggesting that gloom among consumers is increasingly taking hold.
Author: Hanna Andersson, Economist