Irish consumer sentiment falls slightly in March -survey

DUBLIN (Reuters) – Irish consumer sentiment in March fell month-on-month for the first time since November, a survey showed on Friday, as continuing cost-of living pressures and increased uncertainty in the global economy made consumers slightly more cautious.

The Credit Union Consumer Sentiment index slipped to 53.9 from February‘s eight-month high of 55.6. That was still ahead of September’s 14-year low of 42.1, but well below the 77.0 recorded in February 2022, before Russias invasion of Ukraine.

Irelands domestic economy weakened late last year but still posted the fastest growth in the euro zone for 2022 and is expected to expand again this year.

The surveys authors said the slight decline in sentiment emphasised the major pressures household finances remain under rather than suggesting a dramatic change in mood.

“In circumstances where negative financial news-flow dominated the survey period by quite a margin, the drop in consumer sentiment this month could probably be regarded as relatively modest,” the authors said.

(Reporting by Padraic Halpin; Editing by Marguerita Choy)