Ireland: Consumer confidence plunges in December
January 11, 2013
In December, the KBC Bank Ireland/ESRI Consumer Sentiment fell 14.0 points over the previous month to 49.8 points, which contrasted the 2.9-point increase observed in November. According to the survey, "with the bulk of the survey taken around the week of the Budget, the likelihood is that consumers were intensely focused on a wide range of hits to their spending power in the coming year and notably more gloomy as a result".
The current economic conditions index fell in December, as consumers have become more pessimistic about their current financial situation, as well as about their ability to purchase durable goods. In addition, the consumer expectations index also deteriorated over the previous month, suggesting worse prospects over the next 12 months.