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Irish consumer sentiment inched higher in June, rising above the historical average of the series for the first time in two years as the economy slowly reopens, a survey showed on Tuesday.<\/p>\nIrish consumer sentiment inched higher in June, rising above the historical average of the series for the first time in two years as the economy slowly reopens, a survey showed on Tuesday.<\/p>\n
The KBC Bank Ireland consumer sentiment index rose to 87.2 in June from 85.8 in May, its strongest level since June 2019 and above the 25-year series average of 86.8.<\/p>\n
The move marked the fifth successive monthly increase after confidence slumped in January following the reimposition of a Covid-19 lockdown. Restrictions are being gradually eased with indoor dining and drinking only set to resume early next month.<\/p>\n
\u201cThese results suggest the shadow of the pandemic is gradually lifting from the economy and, as a result, Irish consumers are becoming less concerned about their current circumstances as well as less fearful about the future,\u201d KBC Ireland chief economist Austin Hughes said.<\/p>\n
Hughes added that while the re-opening of parts of the economy did contribute to a clear easing in nervousness about the general outlook for the economy, concerns were emerging about future financial circumstances for some.<\/p>\n
Weaker expectations for household finances, including debt burden and disposable income, over the coming year was the only negative sub section of the survey in June, the data showed. – Thomson-Reuters<\/strong><\/p>\nShare this:<\/h3>