Ireland Consumer Confidence December 2020

Ireland

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.

FocusEconomics Consensus Forecast panelists project private consumption to expand 5.2% in 2021, which is from down 0.6 percentage points last month’s forecast. For 2022, the panel sees private consumption growth at 3.9%.


Author:, Economist

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Ireland Consumer Confidence December 20 20

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


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