Ireland: Consumer confidence jumps further in December, albeit remains in negative terrain
December 16, 2020
The KBC Bank Ireland/ESRI consumer confidence jumped to 74.6 in December, from November's 65.5, marking the best reading since March. Despite this upturn, the index remained below the 100-threshold, indicating pessimism among consumers.
December’s improvement was broad-based, likely owing more positive news regarding the pandemic and vaccine developments, as well as with regard to economic activity. Households’ perception of the general economic outlook, expected personal financial situation in the coming 12-month period, as well as their personal financial situation a year ago turned less pessimistic. Moreover, consumers’ willingness to purchase large ticket items improved, while households’ views of the outlook for unemployment also turned less negative.
Author: Hanna Andersson, Economist