Irish Consumers a Little More Nervous in July

The overall KBC Ireland/ESRI Consumer Sentiment Index decreased from 102.8 in June to 99.7 this month. The 3-month moving average continued to rise this month from 100.0 in June to 100.3.

Commenting on the results Ciara Morley, ESRI, said

“All three indices experienced a decline this month suggesting that consumers are feeling more uncertain this month regarding current economic conditions and expectations. While there has been some volatility in the Index in the first six months of the year the broad trend, as suggested by the three-month moving averages, has remained very positive.”
“All but one of the five individual components of the Index fell this month. While consumers remain positive in their outlook for their personal financial situation they are somewhat less optimistic when asked how their current situation compares to 12 months ago. The general economic outlook and the outlook for future employment opportunities are also down this month. Economic conditions in the domestic economy and the wider euro area may have created some uncertainty for consumers in July.”