Ireland Consumer Confidence January 2020

Ireland

Ireland: Consumer confidence improves for third month straight in January

February 5, 2020

The KBC Bank Ireland/ESRI consumer sentiment rose for the third consecutive month in January. The index increased to 85.5 in the month from 81.4 in December, marking the highest reading in six months and thus moving closer but still remaining below the 100-threshold separating optimism from pessimism among consumers.

The improvement logged in the first month of 2020 largely reflected reduced fears around the risk of a “crash out” Brexit and start-of-the-year optimism. Households’ expectations of their personal finances in the year ahead, as well as their appraisal of their personal financial situation in the past year, turned positive. In addition, consumers’ concerns over job losses ahead and their perception of the general economic environment turned less pessimistic. Moreover, households’ willingness to purchase large ticket items improved.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 2.7% in 2020, which is up 0.1 percentage points from last month’s forecast. For 2021, the panel also sees private consumption growing 2.7%.


Author:, Economist

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Ireland Consumer Confidence January 20 20

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


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