Irish consumer confidence experienced a slight decline at the end of the year, driven by concerns over the economic outlook, according to a survey released on Monday. The Credit Union consumer sentiment index fell marginally to 73.9 in December, down from 74.1 in November. This figure remains significantly below the long-term average of 84.3, indicating that consumer sentiment in Ireland is currently quite restrained.
However, when compared to December 2023, consumer concerns have eased somewhat over the past year. David Malone, CEO of the Irish League of Credit Unions, expressed optimism, noting, "It is encouraging that the December sentiment survey indicates consumer spending plans are gradually improving, as household finances are predicted to recover by 2025."
The survey highlights that while concerns about the economic outlook have increased, they have been balanced out by diminishing worries regarding household finances. Additionally, consumer purchasing plans have strengthened for the fourth consecutive month, suggesting a positive trend in spending behavior.
The material has been provided by InstaForex Company - www.instaforex.com
However, when compared to December 2023, consumer concerns have eased somewhat over the past year. David Malone, CEO of the Irish League of Credit Unions, expressed optimism, noting, "It is encouraging that the December sentiment survey indicates consumer spending plans are gradually improving, as household finances are predicted to recover by 2025."
The survey highlights that while concerns about the economic outlook have increased, they have been balanced out by diminishing worries regarding household finances. Additionally, consumer purchasing plans have strengthened for the fourth consecutive month, suggesting a positive trend in spending behavior.
The material has been provided by InstaForex Company - www.instaforex.com