Irish Consumer Mood Highest in 10 Months

Ireland’s Credit Union Consumer Sentiment Index rose to 65.2 in February 2026 from 64.7 in January, extending gains for a fourth consecutive month and reaching its highest level since March 2025. Consumers’ assessment of current economic conditions edged higher, and expectations regarding unemployment also improved modestly. However, respondents turned more downbeat about their own household finances. Looking ahead, sentiment toward the year-ahead outlook was less pessimistic than in previous months. Economist Austin Hughes pointed to supportive GDP data at the end of 2025, firmer exchequer returns, and confirmation that Novo Nordisk will manufacture its weight-loss pill in Ireland for markets outside the US as positive developments. Still, Hughes cautioned that “the change was marginal and the balance of consumer thinking on the Irish economy remains strongly of the view that the Irish economy will weaken rather than strengthen in the year ahead."

Ireland’s Credit Union Consumer Sentiment Index increased to 64.7 in January 2026 from 61.2 in December 2025, marking the highest reading since March 2025. It also marked the third consecutive monthly increase in consumer confidence. However, while confidence is above April’s two-year low of 58.7, the level remains well below the 74.9 recorded a year earlier and the long-term survey average of 83.5, largely due to heightened concerns over US tariffs. There were more negative than positive responses across all five survey elements, and all five were weaker than a year ago. “Irish consumers may be detecting at least tentative signs of a slowdown in living cost inflation of late,” the survey’s authors said in a statement. However, the “still downbeat tone of sentiment suggests consumers view this as some degree of easing in current pressures rather than signalling any clear gains in household spending power,” they added.

Ireland’s Credit Union Consumer Sentiment Index edged up to 61.2 in December 2025 from 61.0 in November, marking the highest reading since September. However, the level remains well below both the 73.9 recorded a year ago and the long-term survey average of 83.6, as concerns over living costs continued to dampen confidence despite the economy’s strong growth. Consumer confidence has barely moved from April’s two-year low of 58.7 amid concerns over new US tariffs. By contrast, consumer morale in the UK and the euro area has improved after also plunging in April on trade-related concerns. “The past year has seen a broadly based downgrade of Irish consumers’ thinking in relation to economic conditions and their own financial circumstances,” the survey’s authors wrote. “Given the importance of the US to the Irish economy, it might be expected that trade concerns would weigh heavily on the thinking of Irish consumers.” Ireland’s economy grew 4.1% yoy in the first nine months of 2025.