The KBC Bank Irish consumer sentiment index fell to 77.2 in August 2019 from 85.5 in the previous month. That was the weakest reading since November 2013, largely due to Brexit-related risks, as the outlook for the Irish economy deteriorated materially on a clearly increased threat that the UK could crash out of the EU without a deal. The fall was broadly based with all of the five main elements of the sentiment index recording weaker readings: general economic outlook (25.7 from 33.2); outlook for unemployment (54.0 from 70.9); household finances in the past 12 months (99.7 from 105.8); expectations for household finances over the next 12 months (91.7 from 99.0); and major purchases (115.1 from 118.9). Consumer Confidence in Ireland averaged 88.10 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.