Ireland Consumer Confidence May 2019

Ireland

Ireland: Consumer confidence rises in May but remains entrenched in pessimistic territory

June 4, 2019

Consumers turned slightly more optimistic in May, with the KBC Bank Ireland/ESRI consumer sentiment index rising to 89.9 from 87.7 in April. The index thus remained firmly entrenched in pessimistic territory, below the crucial 100-point threshold separating optimism from pessimism.

May’s print reflected a better outlook on general economic conditions, personal finances in the year ahead and employment prospects, as an improving labor market suggests gains in households’ purchasing power. The upturns were mild, however, as consumers remain cautious of the implications of Brexit and headwinds arising from a challenging global backdrop. On the flip side, consumers were more downbeat about their personal financial situation in the past 12 months and purchasing big-ticket items, as the recent jump in inflation, mainly on higher energy costs, curbed households’ spending power.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 2.7% in 2019, which is unchanged from last month’s forecast. For 2020, the panel also sees private consumption growing 2.4%.


Author:, Economist

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Ireland Consumer Confidence May 2019

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


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