Consumer Sentiment Decreases in October

November 04, 2014

News
Consumer Sentiment Index
Macroeconomics

The overall KBC Ireland/ESRI Consumer Sentiment Index decreased in October to 85.5, from 92.8 in September. The 3-month moving average fell to 88.5 in October, from 89.8 in the previous month.

Commenting on the results Ciara Morley, ESRI, said

  • “Consumer Sentiment fell again in October following a strong increase in September. This is due to the fact that consumers were feeling less confident about all aspects of the economy. Since the majority of consumers were contacted in the early half of the month it is highly probable that the budget announcements announced on the 14th of October have not yet had the fed through to consumer sentiment this month.”
  • “All five components of the Consumer Sentiment Index were weaker in October. Declines occurred in consumers’ view of the outlook for their household finances over the next 12 months, in their view on their financial situation compared to 12 months ago, and in their expectations of unemployment over the coming 12 months. There were also declines in the recovery expectations of economic performance over the coming 12 months as well as weakened perceptions for purchasing durable consumer goods.”
  • “The index of consumer expectations also fell in October to 79.7 from 85.7 last month while the index of current economic conditions also fell from 103.3 in September to 94.1 in October.”