Irish Consumer Sentiment Holds Steady in May

The overall KBC Ireland/ESRI Consumer Sentiment Index decreased marginally from 98.7 in April to 98.5 this month. The 3-month moving average rose again in May from 97.6 in April to 98.3.

Commenting on the results Ciara Morley, ESRI, said:

“Consumer sentiment has been relatively strong in the first 5 months of 2015. While the index remains largely unchanged this month it is still one of the highest levels recorded since early 2006. The 3-month moving average, which smoothes out much of the monthly volatility, has increased this month and continues to suggest an overall positive trend in consumer’s sentiment.”

“The Index of Consumer Expectations, based on how consumers feel about their future financial situation, the economic climate and future employment opportunities is also up this month to 92.2 from 91.8 in April. This sub-index has been increasing steadily over the last 4 months and is further evidence of a positive trend in consumer’s expectations of the future.”

“The Index of Current Economic Conditions decreased slightly this month to 107.7 from 109 in April. This was largely driven by a fall of 2.6 index points in how consumers view their current financial situation compared to 12 months ago while consumer’s opinion on the current purchasing environment has remained largely unchanged this month.”