Irish consumer sentiment weakened for the third month in a row in September as concerns about a chaotic Brexit made consumers more nervous about the outlook both for the economy in general and their personal finances.
The KBC Consumer Sentiment Index fell to 75.3 last month from 77.2 in August. While the drop in confidence was smaller than in either of the two previous months, it was still sufficient to push the sentiment reading to its lowest level in nearly six years.
Austin Hughes, Chief Economist at KBC Bank Ireland, said: “The September survey paints a picture of a very anxious Irish consumer who could be further unsettled if the upcoming Budget creates a sense of panic about the possibility of much tougher times to come. While Budget ’20 must be realistic, it should seek to reassure in regard to a capacity to weather upcoming storms rather than raise concerns that a much poorer economic climate is set to return.”
