Irish Consumer Confidence Remains on Positive Trend

Sentiment improves in March after February decline

The overall KBC Ireland/ESRI Consumer Sentiment Index increased in March to 97.8 from 96.1 in February. The 3-month moving average continues to increase, from 95.9 in February 98.3 in March.

Commenting on the results Ciara Morley, ESRI, said:
“In March consumer sentiment recovered some of the decline incurred last month, with this month’s sentiment amongst the highest recorded since April 2006. This, along with continued gains in the 3-month moving average suggests that consumer’s sentiment is showing signs of improvement.”

“Following the decline recorded last month in four of the five indicators we now see a much more positive outlook by consumers. Four of the five main indicators have increased over the month. However, consumers remain cautious when it comes to employment opportunities for the coming year.”

“The Index of Consumer Expectations increased marginally to 89.6 this month from 88.6 in February. The Index of Current Economic Conditions, based on how consumers feel about their current financial circumstance compared to 12 months ago, as well as their perception of the current buying environment for large household purchases also increased this month from 107.2 in February to 110.”