The consumer mood has risen to its highest level in two and a half years, according to the latest Credit Union consumer sentiment index.
Easing cost-of-living concerns and continued improvements in the economy have boosted consumers’ attitudes, according to the survey.
That led to an across-the-board pick up in the index’s readings.
Consumers were more upbeat about their current financial conditions, thanks to improving wages, and had higher expectations for the year ahead.
They were also more positive about the general economy, and the outlook for unemployment.
That led to an increase in intentions to make major purchases, including holidays, according to the survey.
However the July sentiment reading was still below the survey’s long-term average – suggesting that caution remains amongst Irish consumers.
But the survey predicts that, if recent improvements in the economy continue, there may be a more significant up-tick in consumer sentiment – and spending – later in the year.
Article Source – Consumer sentiment hits 2 1/2 year high in July – RTE
