Irish consumers remain on ‘watch, wait and worry’ mode, research shows
A broadly unchanged sentiment reading for September signals no marked change in the mood of Irish consumers of late but hints that Irish consumers are in a ‘watch, wait and worry’ mode at present
Print30 September 2024
Irish consumers are in a ‘watch, wait and worry’ mode at present, research shows.
According to the latest Credit Union Consumer Sentiment Survey (in partnership with Core Research) increasing uncertainty about the global economic outlook, ongoing fallout from the cost-of-living crisis, further high-profile redundancy announcements and sharply divided views as to what the upcoming Budget could and should do mean that the average Irish consumer is now confronted with a confusing and concerning picture.
Budget ’25
The data indicates that this might suggest a pivotal role for the upcoming Budget in framing the feelings and finances of Irish households in the months ahead.
Speaking on the release of the September data and analysis, David Malone, CEO of the Irish League of Credit Unions, noted: ‘’The steady if subdued sentiment reading for September hints that Budget ’25 could have a very important influence on Irish households in coming months.”
Varying financial circumstances
In contrast to clearer if widely varying moves in similar confidence metrics for other countries in September, the largely unchanged Irish sentiment reading this month suggests Irish consumers are ‘grappling with the impact of strongly opposing influences on their economic and financial circumstances at present’.
Malone noted that the survey also highlights the widely varying financial circumstances across the spectrum of Irish consumers at present.
“Whether it’s help in managing current challenges or in building a brighter future, Irish consumers can rely on their local credit union to help them when it matters,’’ he added.
Read more: Adults expect no change in their finances post budget
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