Ireland: Consumer confidence improves in April after hitting a six-month low in March
May 9, 2016
In April, the KBC Bank Ireland/ESRI Consumer Sentiment Index rose from March’s 100.6 points to 102.7 points. April’s print represents an improvement from March’s six-month low and the first improvement after two consecutive declines. In the survey report, KBC pointed out that April’s improvement doesn´t reflect a more sustained positive view by Irish consumers but that they have become more cautious amid greater economic uncertainty internationally. April’s reading reflects how more upbeat sentiment on the Irish economic outlook and employment prospects was partly offset by growing concern regarding the impact that the UK EU-membership referendum could have on the Irish economy.
KBC also stated that, “our sense is that upcoming sentiment readings and the broader trend in household spending may be somewhat volatile in the near term. It may take several months for Irish consumers to form a clear view as to whether their fortunes are likely to be shaped by continuing positive momentum in the domestic recovery or the crystallisation of one of the many risks now framing the broader global outlook.”