Consumer Sentiment rises in November

The overall KBC Ireland/ESRI Consumer Sentiment Index increased from 101.3 in October to 103.1 this month. The 3-month moving average also increased this month from 101.0 in October to 101.7.

Commenting on the results Daniel Foley, ESRI, said

“Overall the sentiment index for November increased to a level not seen since before the crises, suggesting that consumer confidence continues to improve. The 3 month moving average for the main indices also increased this month supporting the underlying positive trend.”

“Although overall sentiment increased, the index of current economic conditions again fell moderately this month. This result still seems to be driven by a worsening perception of the current buying climate with more consumers reporting now being a bad time to make a large purchase.”

“The strongest development this month related to consumer’s perception of future employment prospects. There was a significant increase in this component which contributed to an overall increase in the index of consumer expectations. This is the first increase seen in this portion of the index since June 2015”