Ireland: Consumer confidence rises for the first time in five months in November
The KBC Bank Ireland/ESRI consumer sentiment rose notably in November, rising for the first time since June. The index increased to 77.1 in the month from 69.5 in October, which had marked an over six-year low, thus moving closer to but still staying below the 100-threshold separating optimism from pessimism among consumers.
November’s improvement in consumer confidence largely reflected easing concerns around the prospect of a disorderly Brexit as households’ expectations of their personal finances and their appraisal of the Irish economy in the year ahead turned less pessimistic. Meanwhile, consumers’ perception of their personal financial situation in the past 12 months, as well as their concerns over job losses ahead, also turned less negative. Lastly, households’ propensity to purchase big ticket items improved, hinting at strengthened consumer spending ahead of Christmas.