The KBC Bank Irish consumer sentiment index fell to 85.5 in July 2019 from 90.5 in the previous month. That was the weakest reading since November 2014, largely due to Brexit-related risks, as the twelve month outlook for the Irish economy weakened materially on a clearly increased threat that the UK could crash out of the EU within that time frame. Almost mechanically, the risks of weaker economic conditions translated into a more cautious outlook for jobs, while Irish consumers downgraded their expectations for their own personal finances. Meanwhile, consumers’ assessments of how their financial circumstances had evolved through the past twelve months improved. Consumer Confidence in Ireland averaged 88.14 Index Points from 1996 until 2019, reaching an all time high of 130.90 Index Points in January of 2000 and a record low of 39.60 Index Points in July of 2008.
Consumer Confidence in Ireland is expected to be 84.00 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Consumer Confidence in Ireland to stand at 89.00 in 12 months time. In the long-term, the Ireland Consumer Confidence is projected to trend around 105.00 Index Points in 2020, according to our econometric models.