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Published
Mar 31, 2017
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Irish consumer sentiment improves slightly in March but worries persist

Published
Mar 31, 2017

Irish consumer sentiment improved slightly in March, but there was a marginal weakening of spending intentions as consumers remain relatively cautious due to uncertain economic circumstances.


Grafton St, Dublin


According to the latest KBC Bank Ireland/ESRI sentiment index, the improvement of the consumer sentiment was a slight easing of concerns, however there is little evidence that Irish consumers are feeling more positive about the overall health of the economy.

The index increased to 101.9 in March from 100.7 in February, only partly recovering the 2.4 point drop reported a month ago. Three of the five components of the Irish consumer sentiment survey posted stronger readings in March than in February. Of these, the most notable was the easing of concerns about household finances.

However, the March survey also saw a modest pull-back in spending intentions, most likely due to the uncertain economic outlook.

“The March sentiment survey points towards continuing gains in Irish consume spending but it also highlights a number of factors that could limit those gains. There are still concerns about an uncertain economic outlook and a particular sensitivity to any bad news on jobs. In addition, the survey suggests that many household aren’t seeing any marked improvement in their spending power,” said Austin Hughes, KBC Bank Ireland.

The results also suggest that the tone of upcoming Brexit negotiations could further weigh on spending plans of Irish consumers.

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