Ireland Consumer Confidence

Ireland

Ireland: Consumer confidence reaches over-nine-year high in June

June 30, 2015

In June, the KBC Bank Ireland/ESRI Consumer Sentiment Index climbed to the highest level since February 2006, rising from May’s 98.5 points to 102.8 points. June’s rise reflected that consumers assessed both the current economic conditions and the economic prospects in the next 12 months more positively than in May. All subcategories that comprise the index advanced compared to the previous month. Consumers were particularly more upbeat about their personal financial situation in the past and in the next 12 months as well as regarding major purchases. Their assessment of the general economic outlook and unemployment also improved, albeit to a lesser extent.

According to the survey report, “Consumer Sentiment continues to show strong signs of improvement in the first half of this year. This month sees the Consumer Sentiment Index, as well as the two main sub-indices at their highest levels since 2006. While there has been some volatility in the Index in the first 6 months of the year the broad trend, as suggested by the three-month moving average, appears to be very positive.”

FocusEconomics Consensus Forecast panelists expect private consumption to expand 2.4% in 2015, which is unchanged from last month’s forecast. For 2016, the panel sees private consumption increasing 2.6%.


Author: Teresa Kersting, Economist

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Ireland Consumer Confidence Chart


Ireland Consumer Confidence June 2015

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


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