Irish consumer sentiment fell ‘marginally’ in March
Second month showing slight sentiment drop suggests consumers still cautious and concerned
Print26 March 2024
Irish consumer sentiment edged marginally lower for a second month in March, research shows.
This was due to continuing increases in living costs, disappointing economic news and likely delays in the timing of rate cuts translated into a still challenging environment for many households.
The broad message of the March Credit Union Consumer Sentiment Survey (in partnership with Core Research) is that while it may no longer be the worst of times, it is still far from the best of times.
Upward pressure on living costs may have eased but hasn’t reversed and the economic outlook remains extremely uncertain.
Consumer confidence
The gradual if uneven fading of negative factors on consumer confidence is not translating into the emergence of strong positive developments in terms of the economic and financial conditions now being experienced by Irish consumers.
Speaking on the release of the March data and analysis, David Malone, CEO of the Irish League of Credit Unions, noted: “The March Credit Union Consumer Sentiment survey highlights that large numbers of Irish consumers are planning to undertake home improvements at present.
“While much of this work is being paid for from savings and income, it is notable that consumers see their local credit union as the most important source of borrowing for home improvement projects, with twice as many consumers saying they are funding improvements to their homes from credit unions as from banks.”
Read more: Irish consumer sentiment slips as living costs surge and conflict worries emerge: KBC Ireland
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