Consumer sentiment improved marginally in June, new data shows.
It comes as tariff threats eased slightly, oil prices and interest rates fell, and the Irish economy continued to grow.
However, the Credit Union Consumer Sentiment Index shows that the pick-up in sentiment was fractional and doesn’t signal any marked change in the mood of Irish consumers.
“This is because concerns around trade wars, escalating military conflicts and continuing strains on living costs for many Irish households mean that the economic and financial circumstances of consumers are uncertain at best,” said Austin Hughes, Economist and author of the report.
Consumer sentiment in the UK and US also improved in June, however the surveys were all compiled before heightened geopolitical uncertainty related to the escalation in military conflict in the middle east.
A special survey questions reveals that 26% of Irish consumers plan to spend more on holidays this year, while 25% plan to spend the same as last year, and 17% plan to spend less.
22% said they can’t afford to spend on a holiday this year.
