According to a study released on Friday, Irish consumer sentiment slightly strengthened in February to reach its highest level in eight months, as concerns about the expense of living were allayed by mild weather, lower gasoline costs, and increased confidence in the employment situation.
From 55.2 in January, the Credit Union Consumer Sentiment index increased to 55.6 in February. It was an improvement above September’s 14-year low of 42.1 but still far below the 77.0 measured in the survey conducted in February 2022, which was conducted prior to Russia’s invasion of Ukraine.
According to the survey’s authors, the results show that the Irish economy has once again proven to be resilient and that the greatest worries that first surfaced a year ago have not come to pass.
We may have passed “peak dread,” the statement added, despite the fact that consumer spending plans are still modest.