Ireland Consumer Confidence June 2020

Ireland

Ireland: Consumer confidence improves, but remains in negative territory in June

June 24, 2020

The KBC Bank Ireland/ESRI consumer confidence index rose to 61.6 in June from May's 52.3. As such, the index moved closer to, but remained well below the 100-threshold separating pessimism from optimism among consumers.

June’s broad-based improvement came against a backdrop of easing coronavirus-related restrictions both domestically and abroad. In June, households’ willingness to purchase large ticket items improved markedly, as well as their appraisal of the general economic outlook. Moreover, consumers’ outlook for unemployment turned less pessimistic compared to the previous month.

FocusEconomics Consensus Forecast panelists see private consumption falling 8.2% in 2020, which is down 1.4 percentage points from last month. For 2021, the panel projects private consumption to expand 5.8%.


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Ireland Consumer Confidence June 20 20

Note: The KBC Bank Ireland/ESRI Consumer Sentiment Index.
Source: The Economic and Social Research Institute (ESRI).


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