Consumer Sentiment Decreases in August

The overall KBC Ireland/ESRI Consumer Sentiment Index decreased to 87.1 in August, from 89.4 in July. The 3-month moving average rose to 85.9 in August, from 83.3 in July.
Commenting on the results Ciara Morley, ESRI, said:

• “Consumer Sentiment fell slightly in August, following an increase in July. The decrease is driven by worsening perceptions of the current economic environment and the outlook for the coming year.”

• “The index of current economic conditions fell to 98.3, from 103.5 in July. Households are less positive about the current buying climate, most likely due to the end of the summer sales."

• “The index of consumer expectations fell very slightly in August, to 79.6 from 79.9 last month, as households were negative in their perception of the economic outlook for the next year. Households continue to feel positive in their views of the labour market and in their expectations for their financial situation over the next 12 months.”