General Industry

Irish Consumer Sentiment Dips From Two-Year High

By Dave Simpson
Irish Consumer Sentiment Dips From Two-Year High

Irish consumer sentiment has dipped below a two-year high that it hit in June this month on concerns about the economic outlook, but it remained at its third highest level of 2021, a survey has shown.

The KBC Bank Ireland consumer sentiment index slipped to 84.9 in July from 87.2 in June, with the general economic outlook subindex falling to 44.9 from 49.3.

Steady Increase

The slippage follows a steady increase in the index since January as the country has slowly eased COVID-19 restrictions. Indoor hospitality services resumed for individuals who are fully vaccinated against COVID-19 and individuals who have recovered from the virus this week, and international travel from Ireland resumed last week.

KBC Ireland Chief Economist Statements

"Consumers seem to be increasingly conscious of some gathering clouds in the economic sky," including fears of higher inflation, complications with the reopening and concerns about the Delta variant, KBC Ireland chief economist Austin Hughes said.

"We would not interpret the July reading as signalling a notably darker mood among Irish consumers," Hughes said.

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.