Ireland: Consumer confidence remains high in September, despite slight moderation
October 1, 2015
In September, the KBC Bank Ireland/ESRI Consumer Sentiment Index inched down from August’s 101.1 points to 100.6 points. Despite the marginal moderation, the sentiment indicator remained at a high level and close to June’s over-nine-year high.
September’s slight setback mainly reflected that consumers assessed economic prospects in the next 12 months less positively, while their assessments of the current economic conditions was broadly unchanged. Consumers were particularly less upbeat about the global economy, the evolution of their personal finances in the last year and the expected development of their personal finances in the next 12 months. In addition, consumers were marginally more negative about the creation of new jobs than in the previous month. Conversely, consumers were more positive about the economic outlook for the Irish economy, which, according to the survey report, reflects that, “the strength of Irish GDP and jobs data released through the survey period likely served as an important counterweight to increased nervousness abroad.”