Irish Consumer Sentiment Hits Six-Month High Despite Macroeconomic Concerns

Irish consumer sentiment reached a six-month peak in January as concerns about household finances eased. However, worries about the broader macroeconomic outlook and job prospects increased. The Credit Union Consumer Sentiment index rose to 74.9 from 73.9 in December, still below the average of 84.3.

January saw a modest improvement in Irish consumer sentiment, achieving a six-month high, as revealed by a recent survey. This uplift in confidence comes as worries over household finances eased, despite growing concerns about the broader economic landscape.

The Credit Union Consumer Sentiment index rose to 74.9 from 73.9 in the previous month, still trailing its long-term average of 84.3 but surpassing last January's 74.2 reading. The slight improvement suggests a nuanced shift in consumer perspectives.

David Malone, CEO of the Irish League of Credit Unions, noted that while concerns about the cost-of-living crisis are diminishing, spending plans are still marked by caution. The data indicates a mixed outlook, with sentiment about economic conditions and employment weakening compared to December.

(With inputs from agencies.)