Ireland’s Consumer Sentiment Picks Up For Second Straight Month in June

Consumer sentiment in Ireland registered a rise for the second consecutive month during June but is still well below the pre-pandemic levels from earlier this year. The KBC Bank consumer sentiment index rose to 61.6 in June from 52.3 in May on account of the economy reopening, but is still quite far from February’s reading of 85.2.

As lockdown restrictions get lifted across Ireland, just like in several other parts of the world, consumers seem to be getting slightly less pessimistic about the economic outlook, helping improve the sentiment. While consumers are feeling slightly better about the economy, they still maintain caution over the state of their personal finances, indicating that they are likely to remain more guarded about their spending plans in the coming months.

Chief economist at KBC Ireland, Austin Hughes, observes, “There was a significant improvement in expectations for household finances a year from now but, again, this needs to be seen in context. Only one in 20 consumers envisages better financial circumstances through the next 12 months whereas one in three expects a deterioration.”