Ireland: Consumer confidence falls to 10-month low in February
Consumer confidence came in at 77.0 in February, down from January’s 81.9.
The softer reading was due to an across-the-board decline in the index’s subsectors. The positive effect on sentiment of a tight labor market and reduced concerns concerning Covid-19’s economic impact was outweighed by the negative effect of higher cost-of-living pressures and the Russia-Ukraine conflict. Indeed, consumers’ 12-month outlook for the Irish economy demonstrated the sharpest decline, while their view of their current and future personal finances also deteriorated.