2025.08.2600:06:53UTC+00Irish Consumer Confidence Improves in August

Ireland's Credit Union Consumer Sentiment Index experienced a slight uptick in August 2025, rising to 61.1 from 59.1 in July. This modest improvement is attributed to the recent US-EU trade agreement, which has introduced a sense of certainty to the economic forecast. However, it's anticipated that tariffs related to the agreement will decrease Ireland's growth by approximately 1.5 percentage points over the coming five years. Meanwhile, the ongoing concerns of households regarding escalating grocery prices and increased utility bills continue to dampen sentiment. The latest index reading remains below the average of 64.9 for the first eight months of 2025 and significantly lags the long-term average of 83.8, calculated over nearly three decades of the survey’s history. Additionally, the survey pointed out a less optimistic outlook for the next 12 months. Expectations for the economy have dropped significantly compared to the figures recorded the previous year and are below the average for 2025 thus far, indicating that Irish consumers generally foresee a notably weaker economic situation a year from now.