Ireland Consumer Confidence

Ireland

Ireland: Consumer confidence remains high in May, despite slight moderation

June 4, 2015

In May, the KBC Bank Ireland/ESRI Consumer Sentiment Index remained virtually unchanged, inching down from April’s 98.7 points to 98.5 points. May’s reading reflected that setbacks in consumers’ assessments of the current economic conditions more than offset improvements in their view regarding economic prospects in the next 12 months. Compared to the previous month, consumers particularly were less positive about their personal financial situations and major purchases. Conversely, they were more upbeat about the outlook for unemployment and the general economic climate.

According to the survey report, “consumer sentiment has been relatively strong in the first 5 months of 2015. While the index remains largely unchanged this month it is still one of the highest levels recorded since early 2006. The 3-month moving average, which smooths out much of the monthly volatility, has increased this month and continues to suggest an overall positive trend in consumer’s sentiment.”

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 May 2015

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


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