Consumer sentiment recovers further in May to reach 14-month high

The Credit Union Consumer Sentiment index climbed to 62.4 in May from 59.2 in April
Consumer sentiment recovers further in May to reach 14-month high

Reuters

Consumer sentiment continued its steady recovery in May from its recent 14-year low as concerns about the increased cost of living eased a little more, a survey showed on Monday.

The Credit Union Consumer Sentiment index climbed to 62.4 in May from 59.2 in April. That compares to September's low of 42.1 and the 77.0 recorded in February 2022, before Russia's invasion of Ukraine.

The May reading still remains some distance below the 27-year average of 86.5 and, as such, points to a still cautious mood on the part of Irish consumers.

The Irish economy weakened late last year but still posted the fastest growth in the euro zone for 2022 and the Department of Finance last month upgraded its growth forecasts for this year.

"Confidence is building slowly but surely, though current sentiment readings still signal fragile financial circumstances are weighing heavily on the mood of many Irish consumers," the survey's authors said in a statement.

More in this section

Criminal Assets Bureau conducts raids targeting suspected drug trafficker in Kerry Criminal Assets Bureau conducts raids targeting suspected drug trafficker in Kerry
Knife crime sentencing Rents in Ireland are ‘way too high’, Housing Minister says
No proof Puska's sisters-in-law knew he murdered Ashling Murphy when they burnt clothes, court hears No proof Puska's sisters-in-law knew he murdered Ashling Murphy when they burnt clothes, court hears

Sponsored Content

Digital advertising in focus at Irish Examiner’s Lunch & Learn event  Digital advertising in focus at Irish Examiner’s Lunch & Learn event 
Experience a burst of culture with Cork Midsummer Festival  Experience a burst of culture with Cork Midsummer Festival 
How to get involved in Bike Week 2025 How to get involved in Bike Week 2025
Us Cookie Policy and Conditions

© Examiner Echo Group Limited

Add Echolive.ie to your home screen - easy access to Cork news, views, sport and more