Ireland’s consumer confidence improved in May driven by planned easing in ‘lockdown’ and improving trend in health outcomes, survey data from the KBC Bank Ireland showed on Wednesday.
The consumer confidence index rose to 52.3 in May from 42.6 in April. In March, the reading was 77.3. This was the strongest improvement since January 2015.
Nonetheless, the current level of sentiment index signaled that consumers are still worried about their current circumstances and prospects.
The sense that a phased easing of the lockdown is planned together with progressive signs that health outcomes were moving in a less negative direction may have encouraged a little more optimism in forward-looking elements, the survey showed.
The level of the sentiment survey remains comparable with responses seen through the more difficult moments of the financial crisis and is within the lowest 5 percent of readings in the survey’s twenty four year history, KBC Bank Ireland Chief Economist Austin Hughes said.