Ireland Consumer Confidence November 2016

Ireland

Ireland: Consumer sentiment broadly stable in November

December 12, 2016

In November, the KBC Bank Ireland/ESRI Consumer Sentiment Index rose from October’s almost two-year low of 97.3 to 97.8 points. November’s increase was only marginal and the monthly variation was consequently regarded as unchanged. November’s print highlights that consumers remain cautious both in relation to the general economic outlook and their own personal finances as they are grappling with growing uncertainty at home and abroad.

November’s print was driven by an increase in three of the seven sub-indicators of the index. Consumers regarded current conditions more favorably in November as well as the economic outlook. Unemployment prospects rose to an over two-year high in November, reflecting growing apprehension among Irish consumers. Willingness to purchase big ticket items also dropped in the surveyed month.

In this climate of increased uncertainty, KBC suggested that, “recent survey readings are hinting that Irish consumers have become more cautious of late.”

FocusEconomics Consensus Forecast panelists expect private consumption to expand 3.0% in 2017, which is down 0.1 percentage points from last month’s forecast. For 2018, the panel sees private consumption increasing 2.6%.


Author: Jean-Philippe Pourcelot, Economist

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Ireland Consumer Confidence November 2016

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


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