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Ireland Consumer Confidence May 2024

Ireland: Consumer sentiment deteriorates in May

Consumer confidence came in at 65.7 in May, down from April’s 67.8. This marked the fourth consecutive month of decline, but despite this, May’s result was the fifth-strongest in 27 months.

The deterioration came as consumers were less positive about the outlook for the economy and their personal finances.

The decline in April–May compared to Q1’s average augurs poorly for household consumption in Q2, despite the recent fall in inflation; elevated interest rates are likely continuing to hurt household finances by raising borrowing costs.

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