Ireland: Tariffs cause consumer sentiment to tank further in April
Latest reading: Consumer sentiment fell to 58.7 in April from March’s 67.5. April’s result was the weakest since March 2023.
The U.S. President’s new tariffs made consumers more pessimistic about the Irish economy, unemployment and their personal financial situation for the year ahead. Consumers were more upbeat on current economic and personal finances, reflecting the fact that the full impact of the levies is yet to be felt.
Outlook: The downbeat data suggests that private spending is likely slowing in Q2. In Q1, private spending appeared to grow solidly, with services output expanding at the quickest quarterly pace in nearly four years, likely boosted by low inflation and declining interest rates.