Irish consumer sentiment weakened significantly in early March as nervousness about the impact of the Coronavirus on health as well as on economic and financial prospects increased materially.
Nine out of ten consumers surveyed said that they envisage that the Coronavirus will have an impact on Irish economy and six out of ten expect an impact on their personal financial circumstances, according to the recently published KBC Bank Ireland consumer sentiment index, which was completed between the 3 and 10 of March.
The analysis by Austin Hughes, chief economist, KBC Bank Ireland showed that roughly one in four of the respondents expect a substantial impact on the Irish economy.
Just over half of Irish consumers said that the see some impact from the Covid 19 outbreak on their own financial circumstances with only about one in three not envisaging any impact.
The report showed that one in eleven expects a substantial impact on their personal finances.
© 2020 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click sign-up to subscribe to Checkout.