Ireland: Consumer confidence steady in November
December 3, 2014
The KBC Bank Ireland/ESRI Consumer Sentiment Index came in at 85.3 points in November, roughly in line with October’s 85.5 points. According to the survey report, “consumer sentiment held broadly steady in November as consumers struggled to decide whether improving jobs and property markets or continuing pressures on their household finance would be the more important influence on their prospects for 2015.”
November’s result shows offsetting influences between consumers’ perceptions of the current economic environment and their outlook for the Irish economy. The current economic conditions index inched up as consumers were slightly more upbeat about their current situation. The consumer expectations index ticked down as consumers were somewhat less positive about their financial situation over the next 12 months. However, consumers did express optimism about the prospect of purchasing goods and developments in the labor market. These results are consistent with many consumers’ feeling that the economic recovery seen at a national level has yet to carry over and fully impact their everyday experience.
Author: Carl Kelly, Economist