Irish Consumer Sentiment Steady Amid Election Uncertainty

Consumer sentiment in Ireland remains unchanged as citizens await the results of the Irish general election and the impact of the recent U.S. presidential election. The Credit Union Consumer Sentiment index stayed at 74.1. Concerns about U.S. policy changes affecting Ireland's economy kept sentiment stable.

Consumer sentiment in Ireland remained steady in November, as reported in a recent survey released on Wednesday, with citizens waiting to assess the results of this week's Irish general election amidst potential implications from the recent U.S. presidential election. Ireland is set to vote on Friday, with predictions favoring the re-election of the current center-right coalition. A key issue has been Ireland's low-tax business model exposure to potential U.S. policy shifts.

The Credit Union Consumer Sentiment index held firm at 74.1, still below its long-term average of 84.3 but notably higher than the 61.9 reading from the previous year, which saw the nation contending with high inflation. Report authors suggest that the U.S. election results, the forthcoming Irish general election, and growing uncertainty about future developments could have led Irish consumers to pause their decision-making.

Despite concerns about potential U.S. policy impacts on the Irish economy, an unchanged consumer sentiment reading in Ireland should not necessarily be viewed negatively, the report underscores.

(With inputs from agencies.)