Ireland Consumer Confidence August 2021

Ireland

Ireland: Consumer confidence picks up but remains pessimistic in August

August 26, 2021

Consumer confidence rose to 86.5 in August from July's 84.9. Consequently, the index was still below the 100-threshold, signaling that consumers remained pessimistic. In the context of falling consumer confidence elsewhere in the advanced world and a fall in the index last month, the slight increase in August likely signaled that the successful vaccination campaign has boosted consumers’ optimism, although the mood remained guarded amid the rise of the Delta variant.

The increase was driven by a more optimistic perspective of the macroeconomic outlook, an improved outlook on consumers’ own financial situation, and an increased willingness to make major purchases.

FocusEconomics Consensus Forecast panelists project private consumption to expand 4.6% in 2021, which is up 0.2 percentage points from last month’s forecast. For 2022, the panel sees private consumption growth at 6.6%.


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Ireland Consumer Confidence August 2021

Note: The KBC Bank Ireland Consumer Sentiment Index.
Source: KBC Bank Ireland.


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