Ireland: Consumer sentiment shoots up in June
Consumer confidence came in at 70.5 in June, up from May’s 65.7. This marked the first rise in five months, and the second-strongest result in 28 months, despite remaining below the long-term average of 84.5.
The improvement came as consumers were more positive about the current and future state of the economy and their personal finances.
Despite increasing from May, the June print still means consumer sentiment averaged lower in Q2 than in Q1, boding poorly for private spending in the quarter; high interest rates are likely continuing to hit household finances by raising borrowing costs.