Consumer Sentiment Index

What is the Consumer Sentiment Index?
The Consumer Sentiment Index is a monthly report (electronic) produced jointly by the ESRI and KBC Bank Ireland.

Consumer spending is an important element of economic growth. The National Income and Expenditure Accounts (2000) show that in 2000 the value of personal consumption accounted for 49% of Irish GDP. Trends in this component are therefore very important for forecasting and planning. A gap that exists at present in Ireland is a widely used indicator for consumer sentiment. This contrasts with the situation in both Europe and the US. At present the EU Commission publishes a consumer confidence indicator for Europe, and includes details of Ireland as one of the member states. In the US measures of consumer confidence by the University of Michigan and the Conference Board receive much attention, both domestically within the US but also internationally.

Such indicators have a broader use than solely as an input to model based forecasts. They provide some barometer of consumer sentiment and thus are an additional piece of information that may be used by those analysing, or interested in, the health of the economy.The KBC Bank Ireland/ESRI index of consumer sentiment aims to fill the existing gap in information on the consumer sector. The new index uses monthly data collected by the ESRI for the monthly Consumer Survey and is constructed using a methodology based on international best practice.

Irish consumer sentiment hits seventeen year high


Stronger confidence reading partly reflects robust Irish economy Easing in household financial strains also suggested Strong ‘seasonal’ element to jump...  



Irish consumers end 2017 in cautious mood


Sentiment survey effectively unchanged in December Consumers positive on Irish economy but more uncertain about own personal finances Booming economy...  



Softer Irish consumer sentiment hints at cautious rather than carefree Christmas spending


November index sees second monthly drop following September’s 18 month high More cautious (but still positive) view of economic outlook...  



Irish consumer sentiment slightly weaker in October


Marginal drop in sentiment index suggests no major change in consumer thinking Household finances downgraded following September gains, possibly reflecting...  



Irish consumer sentiment improves to eighteen month high


Modest monthly increase sufficient to boost confidence to best level since February 2016 Encouraging signs in September reading but no...  



Slight pull-back in Irish consumer sentiment in August


Slight pull-back in Irish consumer sentiment in August Modest drop suggests sentiment remains positive but brittle ‘Macro’ views improve as...  



Irish consumer sentiment remains positive in July


July index up marginally to strongest reading in 17 months Positive Irish survey contrasts with weaker confidence elsewhere Consumers likely...  



Irish consumer sentiment surprisingly strong In June


Large monthly rise pushes sentiment to best level since February 2016 Jump may reflect reduced fears of hard Brexit after...  



Consumer sentiment slips in May as risks remain and income gains disappoint


Sentiment Survey Suggests Conditions Slightly Better But Irish Consumers Aren’t Seeing A Boom Marginal monthly drop enough to prompt weakest...  



Sentiment Survey Suggests Conditions Slightly Better But Irish Consumers Aren’t Seeing A Boom


April sentiment reading broadly unchanged from March or level seen a year ago ‘Macro’ worries ease marginally as Brexit/Trump fallout...  





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