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 consumers slightly more cautious in February


Modest drop in Irish consumer sentiment mirrors international trend Drop in index broadly based but doesn’t fully reverse January’s gains...  



Strong January Consumer Sentiment Reading Likely Explained By Seasonal Influences And A Trump ‘Honeymoon’


Sharp jump in sentiment to best level in seven months We estimate Christmas/New Year effects responsible for about three quarters...  



Irish Consumer Sentiment Ends 2016 On A Nervous Note


Modest monthly decline sufficient to push sentiment to 22 month low Increased uncertainty rather than notably weaker conditions undermining confidence...  



Irish Consumers Stay Cautious In November


Irish Consumer Sentiment Index effectively unchanged in November Steady reading contrasts with marked changes in consumers’ moods elsewhere Irish consumers...  



Irish Consumer Confidences Slides Further In October


Monthly fall not dramatic but sufficient to push sentiment index to 20 month low Poorer assessment of household finances the...  



Small Drop In Consumer Sentiment Hints At Growing Uncertainty And Unease


Marginal drop in Irish consumer sentiment in September primarily driven by Irish-specific influences rather than global factors Sentiment still reasonably...  



Irish Consumers A Little Less Nervous In August


Sentiment index recovers  most of July’s post-Brexit fall Increased uncertainty a key issue for sentiment in Ireland and elsewhere Irish...  



Irish Consumer Sentiment Softer But Fall In July Not As Large As Feared


Fall in consumer sentiment index in July smaller than declines seen in March or May Modest drop in headline figure...  



Irish Consumers A Little More Optimistic In June (Before Brexit)


Good news on jobs drives uptick in confidence Consumers still struggling to make sense of rapidly changing economic prospects Brexit...  



Irish Consumers Increasingly Nervous In May


Irish consumer sentiment slips to fourteen month low Survey suggests no dramatic deterioration in circumstances but a clear downgrading of...  





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