DUBLIN: Irish consumer sentiment in February slipped back from a 17-year high on scaled-back spending plans and a more cautious view of the country’s economic prospects, a survey showed on Monday. Ireland’s economy has posted the fastest growth in Europe since 2014 and unemployment has fallen rapidly, but the recovery has been uneven for some consumers with only modest gains in purchasing power.
The KBC Bank Ireland/ESRI consumer sentiment index fell back to 105.2 in February after shooting up to 110.4 in January from 103.2 in December.
Both elements of the Irish consumer sentiment survey that relate to general economic conditions showed moderate declines from strong January readings. Two of the three elements of the survey related to household finances saw significant declines, including what the authors described as an unusually large drop in consumers’ assessment of the current buying climate.
