Irish Consumer Sentiment Declines to a Near Six-Year Low in September - Forex News by Strategia Forex
Consumer sentiment deteriorates

Irish Consumer Sentiment Declines to a Near Six-Year Low in September

Posted Monday, October 7, 2019 by
Arslan Butt • 1 min read

According to data released by KBC Bank, Irish consumer sentiment deteriorated for the third consecutive month in September over mounting Brexit uncertainties. The KBC Bank consumer sentiment index declined to 75.3 in September from 77.2 in August. This is the lowest level this figure has touched in nearly six years.

The survey reveals rising anxieties among consumers in Ireland over the impact on the economy over rising risks of a no-deal Brexit. Consumers are also concerned about next year’s budget with around 75% raising concerns about the impact of tax and welfar changes affecting their personal finances.

Irish consumers’ outlook for the economy in general, unemployment and personal finances have also declined in September from the previous month. On the positive side, however, consumers expressed more optimism towards making major purchases in September than in August.

Unlike in the Euro area and the UK where consumer sentiment improved slightly in September, Ireland’s consumers were more concerned about rising uncertainties and downside risks to the Irish economy and their personal finances.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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