Ireland: Consumer sentiment deteriorates in February
March 17, 2017
In February, the KBC Bank Ireland/ESRI Consumer Sentiment Index dropped from 103.1 points in January to 100.7 points. The moderate drop in the observed month reflects growing concern regarding international developments and partly reverts the seasonal increase observed in January.
February’s print reflects a decrease in almost all components of the index. Irish consumers viewed their current economic conditions on a more negative light in the surveyed month and were less inclined to purchase big ticket items. Fears of unemployment grew as industrial disputes and high profile job losses clouded the labor’s market outlook. In contrast, financial situation in the next 12 months was the only indicator that improved. KBC noted that the improvement of this component in February “suggests that the typical Irish consumer is still cautiously positive in their outlook but they remain apprehensive about potential threats to the economy and jobs in the coming year.”