Consumer Sentiment Index Hits Highest Level Since May 2007
Published on Feb 5 2014 12:35 PM in Retail
The latest KBC Ireland/Economic and Research Institute (ESRI) Consumer Sentiment Index has increased to 84.6 in January, up from 79.8 in December (and 64.2 in January 2013), an indication that confidence may be returning to the market.
This is the highest level the Index has reached since May 2007.
The 3-month moving average increased further to 78.5, from 75.7 in December.
Kevin Timoney of ESRI said of the results: “Consumer sentiment gained further in January, following an upbeat December. […] Every year of the survey has begun with a boost to the buying climate for durable consumer goods, supported by the January sales. This month saw the component improve to a four-year peak.
“Improved perceptions for the labour market over the coming year also contributed to the increase in sentiment. However, household perceptions of their current financial situation worsened somewhat compared to December.”
The index of consumer expectations improved from 72.7 in December to 75.8 this month. The index of current economic conditions jumped from 90.3 to 97.6.
© 2014 - Checkout Magazine by Karis Copp