Ireland’s Consumer Sentiment Index to continue under Credit Union, Core Research partnership

Partnership will also see the publication of a quarterly Consumer Sentiment Index for Northern Ireland

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11 October 2022 | 0

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From October 2022, the Irish consumer sentiment index will be produced through a partnership between the Irish League of Credit Unions, and Core Research, part of Ireland’s largest marketing company, Core.

Economist, Austin Hughes, who has led the analysis of the sentiment survey across its 26 years of data will continue to oversee the development of the index and will provide monthly analysis and commentary on trends in Irish consumer confidence and their broader economic significance.

This partnership will also see, for the first time, the publication of a quarterly Consumer Sentiment Index for Northern Ireland.

Ireland’s Consumer Sentiment Index was first published in 1996, produced jointly by the Economic and Social Research Institute (ESRI) and the IIB/KBC Bank. Since 2019, the KBC Consumer Sentiment Index has partnered with Core Research to prepare the survey using a consistent methodology based on international best practice.

Referring to the announcement of a new partnership underpinning the production of the Index, Hughes said: “As is the case with similar surveys internationally, the Irish Consumer Sentiment Index has provided important and early information on emerging trends in the Irish economy. As we now face very turbulent and uncertain circumstances, it is vital that we continue to closely monitor the economic and financial forces shaping the behaviour of Irish consumers.  I’m very pleased to see the Index continue to be produced and to have the opportunity for nearly three decades to examine what it tells us about ongoing changes in Irish consumer thinking.”

“The Irish credit union movement is at the heart of Irish society and the economy,” said David Malone, CEO at The Irish League of Credit Unions (ILCU). “Understanding consumer sentiment is a key part of our role as an organisation. We are pleased to play our part in maintaining this important metric within the economy.”

“Given the insight provided by an unbroken data set stretching nearly three decades, the Consumer Sentiment Index remains to be an essential barometer for both business and wider society to plan for the future,” said Naomi Staff, managing director at Core Research. “We are privileged to continue to produce this index and believe it is an important public good to better understand the mood of the Irish consumer and the impact on their consumer and financial behaviour.”

 

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