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Irish consumer sentiment holds steady ahead of Christmas
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DUBLIN (Reuters) – Irish consumer sentiment softened slightly in December as increased concerns about the economic outlook were offset by easing worries around household finances, a survey showed on Monday.
DUBLIN (Reuters) – Irish consumer sentiment softened slightly in December as increased concerns about the economic outlook were offset by easing worries around household finances, a survey showed on Monday.
The Credit Union Consumer Sentiment index fell to 73.9 in December from 74.1 in November. That is well below its long-term average of 84.3 but considerably higher than the reading of 62.4 a year ago when Ireland was still grappling with high inflation.
“The fractional fall in sentiment between November and December essentially signals no marked change in the mood of Irish consumers through the past three months,” the report’s authors said in a statement.
(Reporting by Conor Humphries; Editing by Sachin Ravikumar)
Consumer sentiment refers to the overall attitude of consumers towards the economy and their financial situation, which can influence their spending and saving behaviors.
The Credit Union Consumer Sentiment index is a measure that reflects the confidence of consumers in their financial situation and the economy, often used to gauge economic trends.
Inflation is the rate at which the general level of prices for goods and services rises, eroding purchasing power and affecting economic stability.
The long-term average refers to the typical value of a financial metric over an extended period, providing a benchmark for assessing current performance.
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