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Consumer confidence drops, driven by Covid concerns

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Irish consumer confidence dropped again in December, as concerns around Covid-19 and the cost of living intensified. The KBC Bank consumer sentiment index dropped to 74.9 from 83.1 in November - its weakest reading since February, indicating a clear deterioration in the mood of Irish consumers.

December saw the third largest monthly fall since the pandemic struck. "While altogether more measured than the precipitous decline of 34.7 seen in April 2020, the December change suggests Irish consumers are bracing themselves for a difficult period to come," said Austin Hughes, KBC Bank Ireland's chief economist.

Mr Hughes said there are four factors that may have added to the increased level of nervousness among consumers. The first two of these

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COVID-19
United States
United States
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India
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Russia
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Deaths: 237 619
Recovered: 0
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