Ireland: Consumer sentiment decreases in August
Consumer confidence came in at 53.4 in August, down from July’s 53.7. August’s result marked the weakest sentiment since October 2020.
The mild deterioration came against a very uncertain backdrop. Looking at the details of the release, consumers grew more pessimistic with regard to their personal financial situation in the coming year and the outlook of the labor market. Additionally, they became less inclined to make big-ticket purchases. Meanwhile, about 70% of surveyed consumers reckoned that higher interest rates are likely to have a negative impact on their personal financial circumstances.