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Financial News: Ireland's Consumer Confidence Weakest In 4 Months

Ireland's Consumer Confidence Weakest In 4 Months

05/11/2018 - 01:51:00 (RTTNews)

(RTTNews) - Ireland's consumer confidence weakened to its lowest level in four months in April due to increased global worries about trade wars and oil prices, survey results from KBC Bank and the Economic and Social Research Institute showed Friday.

The consumer confidence index fell to 104.0 in April from 108.1 in March. This was the lowest since December.

The index of current conditions came in at 119.8, down from 126.4 a month ago. Similarly, the index of consumer expectations dropped to 93.4 from 95.7 in March.

Assessment of past personal financial situation and future financial situation declined in April. The index for past financial situation fell to 103.0 from 109.4 and that for future financial situation slid to 122.2 from 122.7.

While the index for general economic outlook held steady at 69.7, the outlook for employment declined to 92.3 in April from 101.0 in the previous month.

There is little sense that consumers are sensing any great benefit to their household finances from negative Irish inflation at present, Austin Hughes, chief economist, KBC Bank Ireland, said.

This may partly reflect the moderate pace of income growth or it could be that they are more focused on areas such as housing or energy where costs are rising well above the overall inflation rate, Hughes added.

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