Ireland Consumer Confidence September 2022

Ireland

Ireland: Consumer sentiment plummets in September

September 22, 2022

Consumer confidence fell to 42.1 in September from August's 53.4. September's result marked the weakest sentiment since October 2008.

The sharp deterioration was driven by declines in every subcomponent of the consumer sentiment index. Consumers became especially more pessimistic about the 12-month ahead outlook for the economy and personal finances. This darker outlook was, in turn, likely driven by the announcement in early September that energy bills would rise by 27% from 1 October.

FocusEconomics Consensus Forecast panelists see private consumption expanding 4.3% in 2022, which is unchanged from last month’s forecast. In 2023, the panel projects private consumption growth at 2.4%.


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