Irish consumer sentiment drops on tighter virus restrictions

24.08.2020 - Petr Mazaylo
Irish consumer sentiment drops on tighter virus restrictions

August had seen Ireland’s consumer sentiment declining. This followed after the implementation of local virus-related lockdowns and tighter nationwide measures, prompting people to reassess how long the coronavirus-led disruption will persist.

The KBC Bank consumer sentiment index was monitored at 58.9 this month, placing lower than the 62.6 reading seen in July. However, the figure placed above the 42.6 record in April when activity slumped and resulted to the sharpest monthly drop on record.

“There have been some very positive elements in recent spending data that, together with the trend in consumer confidence in recent months, point to a clear turnaround in sentiment and spending from April’s low-point,” KBC Ireland chief economist Austin Hughes said.

The country was put under one of the strictest virus-driven approaches in Europe, with its economy slowly reopening and restrictions failing to contain an upsurge in new infections this month.

Risk disclaimer "Market Solutions Ltd – Suite 305 Griffith Corporate Centre P.O. Box 1510 Beachmont, Kingstown, St Vincent and the Grenadines is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0128 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of Market solutions Ltd and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or Market Solutions limited." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?