Consumer Sentiment Increases in December
The overall KBC Ireland/ESRI Consumer Sentiment Index increased from 103.1 in November to 103.9 this month. The 3-month moving average also increased this month from 101.7 in November to 102.8.
Commenting on the results Daniel Foley, ESRI, said
“Overall the consumer sentiment index increased again in December, suggesting that consumer confidence continues to improve. The underlying trend’s for the main indices also continued upward indicated by increases in their 3 month moving averages.”
“The index of consumer expectations remained static this month. There were improved perceptions of the outlook for the labour market and economic conditions over the next 12 months. However, consumers were more cautious in December about their personal financial situation 12 months from now.”
“The strongest component of the survey this month related to consumer’s perception of the current buying climate. The buying climate strengthened in December indicating that household’s feel more confident with regard to decisions involving major household purchases. This contributed to an overall increase in the index of current economic conditions this month.”