The Consumer Sentiment Index (Chart 1) fell in June
to 102.1 index points. From both annual and monthly
perspectives, this change represents a broad-based
fall in consumer confidence. As Table 1 highlights,
sentiment was primarily driven down by revised
employment outlooks and a weakened appetite for
major household purchases. While the Consumer
Sentiment Index remains distinctly positive in terms
of the formation of overall attitudes, this decline
coincides with a persistent weakening of consumer
confidence across the Eurozone

Author, No

Consumer Sentiment rose by 4.5 points as improving current conditions and more optimistic expectations drove overall sentiment this month. The Index of current conditions increased up to 123.4 from 118.0 in May as households views of their personal financial situations improved compared to last year. There was also a broad improvement in the expectations component of the survey with labour market expectations as well general economic expectations improving compared to May. The short term trends began to point upwards again this month after remaining relatively flat last month

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            CONSUMER SENTIMENT INDEX, JUNE 2017        Consumer Sentiment rose by 4.5 points as improving current conditions and more optimistic expectations drove overall sentiment this month. The Index of current conditions increased up to 123.4 from 118.0 in May as households views of their personal financial situations improved compared to last year. There was also a broad improvement in the expectations component of the survey with labour market expectations as well general economic expectations improving compared to May. The short term trends began to point upwards again this month after remaining relatively flat last month.  General Economic Situation  The results this month point to improving expectations regarding future economic and labour market conditions. Consumers appear to feel more optimistic with regard to employment prospects in the next 12 months with this component increasing by 4.5 index points as the proportion of negative responses dropped in June. The Outlook for the general economic climate was also revised upwards with a 7 percentage point increase in positive responses.  The buying climate improved compared to last month with a 6 percentage point increase in positive responses resulting in a 4.5 point index point increase in this component of the index.                            30405060708090100110120Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17Quarter 4, 1995=100Chart 1: Consumer Sentiment IndexMonthly Index 3 mth moving average5060708090100110120130Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17Quarter 4, 1995=100Chart 3: Index of Current Economic ConditionsMonthly Index 3 mth moving average102030405060708090100110Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17Quarter 4, 1995=100Chart 2: Index of Consumer ExpectationsMonthly Index 3 mth moving averageKBC Bank Ireland, Sandwith Street, Dublin 2, Tel: 01-664 6889, Fax: 01-664 6898, Web: www.kbc.ie  ESRI, Whitaker Square, Sir John Rogerson's Quay, Dublin 2, Tel: 01-863 2000, Web: www.esri.ie   Personal Financial Situation  There were also improvements in how consumers view their personal finances, both past and future. Overall it appears that households feel their finances have much improved compared to 12 months ago reflected in the 6.4 index point increase in this component. Expectations of future financial situations also improved, albeit at a moderate pace, increasing by 1.1 index points in June                                              (1) Index values: Quarter 4, 1995 = 100. (2) Average value between June 2012 and June 2017.  Table 1: Survey Index Results     Measure1 Long-Run average2 Δ month-on-month  June 2016 May 2017 June 2017 Overall Consumer Sentiment Index 87.0  ↑4.5 103.4 100.5  105.0 Index of Current Conditions 101.0 ↑5.4 114.5 118.0 123.4 Index of Consumer Expectations 77.6        ↑3.9 95.9 88.8 92.7       Personal Financial Situation over last 12 months 73.9 ↑6.4 100.3 99.7  106.1  Personal Financial Situation over next 12 months 93.8 ↑1.1 121.6 120.3 121.4 General Economic Outlook  61.8 ↑5.9 72.5 62.7 68.6 Outlook for Unemployment  81.1 ↑4.5 98.8 87.7 92.2 Major Purchases  123.4 ↑4.5 126.2 133.1 137.6 KBC Bank Ireland, Sandwith Street, Dublin 2, Tel: 01-664 6889, Fax: 01-664 6898, Web: www.kbc.ie  ESRI, Whitaker Square, Sir John Rogerson's Quay, Dublin 2, Tel: 01-863 2000, Web: www.esri.ie            Disclaimer This report has been reviewed prior to publication. The authors are solely responsible for the content and the views expressed.  Notes The Index of Consumer Expectations is based on consumers’ perceptions of their future financial situation, their economic outlook for the country as a whole and employment expectations. The Index of Current Economic Conditions is based on how consumers feel about their current financial circumstance compared with 12 months ago, as well as their perception of the current buying environment for large household purchases.   The data are obtained from telephone interviews during the first two weeks of the month with around 800 completed questionnaires. The data are re-weighted in line with gender, age and level of educational attainment to ensure the data were fully representative of the national population of adults. Each index is calculated by computing the relative scores (the percent giving favourable replies minus the percent giving unfavourable replies (the balance), plus 100) for each question used in the different indices. Those who reply “Don’t Know”, “Remain the same” are excluded from the index calculations. Each relative score is rounded to the nearest whole number. The sum of the relative scores is then divided by the base period total for each index. More details on www.esri.ie.                                                         For further information contact   Austin Hughes – Chief Economist, KBC Bank Ireland– (01) 664 6889 or Conor O’Toole – Senior Research Officer, ESRI – (01) 863 2045  Historic data from April 1996 are available on the ESRI website, www.esri.ie and on the KBC Bank Ireland website, www.kbc.ie. A detailed methodology note outlining how the indices are constructed and the most recent release are also available on the websites.

Consumer Sentiment Index, June 2017

Consumer Sentiment remained broadly flat this month compared to last month, increasing by only 0.1 index points. Differences of opinions were evident between current economic conditions and expectations regarding the future direction of the economy. Despite these diverging views, the short term trends continue to point up: sentiment is still increasing and is about 3 index points higher than July of last year

CONSUMER SENTIMENT INDEX, JULY 2017 Consumer Sentiment remained broadly flat this month compared to last month, increasing by only 0.1 index points. Differences of opinions were evident between current economic conditions and expectations regarding the future direction of the economy. Despite these diverging views, the short term trends continue to point up: sentiment is still increasing and is about 3 index points higher than July of last year. General Economic Situation Households differ in their expectation of the general economic outlook and the labour market. Expectations for the economy worsened this month, falling by 0.6 index points as consumers views moved towards a more neutral outlook. Labour market expectations improved modestly this month with the index rising to 92.6 from 92.2 last month. Consumers appeared to be particularly optimistic about the buying climate this month with the component asking about making large household purchases increasing by 4.6 index points up to 142.2 in July. 30405060708090100110120Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17Quarter 4, 1995=100Chart 1: Consumer Sentiment IndexMonthly Index 3 mth moving average5060708090100110120130Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17Quarter 4, 1995=100Chart 3: Index of Current Economic ConditionsMonthly Index 3 mth moving average102030405060708090100110Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17Quarter 4, 1995=100Chart 2: Index of Consumer ExpectationsMonthly Index 3 mth moving averageKBC Bank Ireland, Sandwith Street, Dublin 2, Tel: 01-664 6889, Fax: 01-664 6898, Web: www.kbc.ie  ESRI, Whitaker Square, Sir John Rogerson's Quay, Dublin 2, Tel: 01-863 2000, Web: www.esri.ie    Personal Financial Situation  The optimism present in last month’s survey regarding personal finances has faded in July. Consumers are noticeably less optimistic about both their past and future financial situations. Overall, however, both of these components are at a higher level than this time last year suggesting there have been some improvements in personal financial situations as well as an increase in optimism regarding future finances.                                               1) Index values: Quarter 4, 1995 = 100. 2) Average value between July 2012 and July 2017.   Table 1: Survey Index Results     Measure1 Long-Run average2 Δ month-on-month  July 2016 June 2017 July 2017 Overall Consumer Sentiment Index 87.7  ↑0.1 99.6 105.0 105.1 Index of Current Conditions 101.8 ↑1.2 122.3 123.4 124.6 Index of Consumer Expectations 78.3        ↓0.7 84.4 92.7 92.0       Personal Financial Situation over last 12 months 74.9 ↓2.8 102.0 106.1  103.3 Personal Financial Situation over next 12 months 94.6 ↓1.4 115.7 121.4 120.0 General Economic Outlook  62.4 ↓0.6 59.4 68.6 68.0 Outlook for Unemployment  81.8 ↑0.4 81.9 92.2 92.6 Major Purchases  123.9 ↑4.6 139.0 137.6 142.2 KBC Bank Ireland, Sandwith Street, Dublin 2, Tel: 01-664 6889, Fax: 01-664 6898, Web: www.kbc.ie  ESRI, Whitaker Square, Sir John Rogerson's Quay, Dublin 2, Tel: 01-863 2000, Web: www.esri.ie           Disclaimer This report has been reviewed prior to publication. The authors are solely responsible for the content and the views expressed.  Notes The Index of Consumer Expectations is based on consumers’ perceptions of their future financial situation, their economic outlook for the country as a whole and employment expectations. The Index of Current Economic Conditions is based on how consumers feel about their current financial circumstance compared with 12 months ago, as well as their perception of the current buying environment for large household purchases.   The data are obtained from telephone interviews during the first two weeks of the month with around 800 completed questionnaires. The data are re-weighted in line with gender, age and level of educational attainment to ensure the data were fully representative of the national population of adults. Each index is calculated by computing the relative scores (the percent giving favourable replies minus the percent giving unfavourable replies (the balance), plus 100) for each question used in the different indices. Those who reply “Don’t Know”, “Remain the same” are excluded from the index calculations. Each relative score is rounded to the nearest whole number. The sum of the relative scores is then divided by the base period total for each index. More details on www.esri.ie.                                                         For further information contact   Austin Hughes – Chief Economist, KBC Bank Ireland– (01) 664 6889 or Conor O’Toole – Senior Research Officer, ESRI – (01) 863 2045  Historic data from April 1996 are available on the ESRI website, www.esri.ie and on the KBC Bank Ireland website, www.kbc.ie. A detailed methodology note outlining how the indices are constructed and the most recent release are also available on the websites.

Consumer Sentiment Index, July 2017

To begin the New Year, the Consumer Sentiment

Index has experienced a strong surge across all

indicators resulting in a monthly rise of 7.2 points to

110.4 for January 2018 (Chart 1). This marks the

highest monthly rise in the Index over the last two

years and returns the index back to pre-Brexit levels.

The increase is broad-based with almost all of the

underlying indicators increasing strongly: Irish

consumers are starting the New Year in confident

mood

            CONSUMER SENTIMENT INDEX, JANUARY 2018     To begin the New Year, the Consumer Sentiment Index has experienced a strong surge across all indicators resulting in a monthly rise of 7.2 points to 110.4 for January 2018 (Chart 1). This marks the highest monthly rise in the Index over the last two years and returns the index back to pre-Brexit levels. The increase is broad-based with almost all of the underlying indicators increasing strongly: Irish consumers are starting the New Year in confident mood.    Current Economic Situation  The Index of Current Economic Conditions tracks developments in consumer’s personal financial situation over the past 12 month as well as their views on whether the present represents a good time to make major purchases. The Index (Chart 2) increased by 6.7 index points to 129.6 in January 2018. Improvements in attitudes towards major household purchases acted as the main driver of this surge, rising by over ten index points within a single month. Households also reported an improvement in regard to their own personal financial situation over the past 12 months, with the sub-component of the Index rising by 1.9 index points.   The Index of Consumer Expectations (Chart 3) tracks consumers’ outlook on future economic developments over the next year, more specifically regarding their personal finances while also aggregating attitudes towards the broader economy. The Index increased by 7.5 index points in January. This increase was driven by a strong acceleration in households views on how their own personal financial situation will improve over the next 12 months as well as very positive sentiment towards the broader economy. Most notably, perceptions towards the greater economy improved, increasing to levels unseen since February 2016. Positive sentiment towards the future prospects of the labour market also improved, showing a 3.3 index point rise on a monthly basis.                              KBC Bank Ireland, Sandwith Street, Dublin 2, Tel: 01-664 6889, Fax: 01-664 6898, Web: www.kbc.ie  ESRI, Whitaker Square, Sir John Rogerson's Quay, Dublin 2, Tel: 01-863 2000, Web: www.esri.ie     Personal Financial Situation  January 2018 saw a major improvement in consumers’ perceptions of their current and future financial situations: Irish households entered 2018 in positive mood. Relative to December, more households indicate that their personal financial situation improved in the past 12 months (+1.9 index points). Furthermore, their views on how their finances will change in the coming year improved far more rapidly, rising by 9.7 index points on a monthly basis. This data may suggest a trickle-down effect of the economic recovery is beginning to emerge. On a cautionary note, the series does remain relatively volatile.                                                            Table 1: Survey Index Results  Measure1 Long-Run average2 Δ month-on-month Jan. Dec. Jan. 2016 2017 2017  Overall Consumer Sentiment Index 92.0 ↑7.2 103.1 103.2 110.4  Index of Current Conditions 106.0 ↑6.7 122.8 122.9 129.6  Index of Consumer Expectations 82.5 ↑7.5 89.9 90.0 97.5               Personal Financial Situation over last 12 months 80.7 ↑1.9 100.8 106.2 108.0  Personal Financial Situation over next 12 months 100.2 ↑9.7 120.1 115.9 125.6  General Economic Outlook 65.3 ↑8.1 63.3 65.3 73.4  Outlook for Unemployment 86.2 ↑3.3 91.6 94.8 98.0  Major Purchases 126.9 ↑10.6 140.9 136.8 147.4  (1) Index values: Quarter 4, 1995 = 100.      (2) Average value between January 2013 and January 2018     KBC Bank Ireland, Sandwith Street, Dublin 2, Tel: 01-664 6889, Fax: 01-664 6898, Web: www.kbc.ie  ESRI, Whitaker Square, Sir John Rogerson's Quay, Dublin 2, Tel: 01-863 2000, Web: www.esri.ie         Disclaimer This report has been reviewed prior to publication. The authors are solely responsible for the content and the views expressed.  Notes The Index of Consumer Expectations is based on consumers’ perceptions of their future financial situation, their economic outlook for the country as a whole and employment expectations. The Index of Current Economic Conditions is based on how consumers feel about their current financial circumstance compared with 12 months ago, as well as their perception of the current buying environment for large household purchases.   The data are obtained from telephone interviews during the first two weeks of the month with around 800 completed questionnaires. The data are re-weighted in line with gender, age and level of educational attainment to ensure the data were fully representative of the national population of adults. Each index is calculated by computing the relative scores (the percent giving favourable replies minus the percent giving unfavourable replies (the balance), plus 100) for each question used in the different indices. Those who reply “Don’t Know”, “Remain the same” are excluded from the index calculations. Each relative score is rounded to the nearest whole number. The sum of the relative scores is then divided by the base period total for each index. More details on www.esri.ie.                                                         For further information contact   Austin Hughes – Chief Economist, KBC Bank Ireland– (01) 664 6889 or Philip Economides – Research Assistant, ESRI – (01) 863 2045 Conor O’Toole – Senior Research Officer, ESRI – (01) 863 2046  Historic data from April 1996 are available on the ESRI website, www.esri.ie and on the KBC Bank Ireland website, www.kbc.ie. A detailed methodology note outlining how the indices are constructed and the most recent release are also available on the websitesKBC Bank Ireland, Sandwith Street, Dublin 2, Tel: 01-664 6889, Fax: 01-664 6898, Web: www.kbc.ie  ESRI, Whitaker Square, Sir John Rogerson's Quay, Dublin 2, Tel: 01-863 2000, Web: www.esri.ie    

Consumer Sentiment Index, January 2018

The Consumer Sentiment Index (Chart 1) fell in

August to 102.4 index points, decreasing by 5.2

points from the previous month. Relative to August

2017, the index decreased by 0.5 index points. While

sentiment weakened in terms of current conditions

and consumer expectations, lower economic

expectations and less appetite towards major

household purchases acted as the main driver of the

downward revisions

                                     CONSUMER SENTIMENT INDEX, AUGUST 2018      The Consumer Sentiment Index (Chart 1) fell in August to 102.4 index points, decreasing by 5.2 points from the previous month. Relative to August 2017, the index decreased by 0.5 index points.  While sentiment weakened in terms of current conditions and consumer expectations, lower economic expectations and less appetite towards major household purchases acted as the main driver of the downward revisions.   Current Economic Situation  The Index of Current Economic Conditions tracks developments in consumers’ personal financial situations over the past 12 month as well as their views on whether the present represents a good time to make major purchases. The Index (Chart 2) decreased by 5.7 index points between July and August, reaching 123.2. On an annual basis, confidence in current conditions increased by 5.2 index points, suggesting that current conditions, while volatile, are still gradually trending upwards. While weak sentiment towards major household purchases fuelled most of this month’s loss, from an annual perspective both subcomponents experienced notable gains in confident.   The Index of Consumer Expectations tracks consumers’ outlook with respect to future economic developments over the next year, taking into account expectations of their future personal finances as well as broader economic performance. Compared to June, the Index (Chart 3) declined by 5.0 index points to 88.4 marking its lowest point since April 2017. Accumulating concerns about the general economy appear to be increasingly burdening the formation of long-run expectations, with annual changes in the growth and labour market outlooks now outweighing monthly changes.                                 KBC Bank Ireland, Sandwith Street, Dublin 2, Tel: 01-664 6889, Fax: 01-664 6898, Web: www.kbc.ie  ESRI, Whitaker Square, Sir John Rogerson's Quay, Dublin 2, Tel: 01-863 2000, Web: www.esri.ie      Personal Financial Situation  Households have revised perceptions of current financial circumstances and expected improvements downwards in August. This reduction in confidence resulted in current financial conditions falling by 3.3 index points relative to July. Expected financial situations over the next 12 months also weakened, falling by 5.8 index points. Although both indicators still remain highly positive, long-run expectations of financial situations should be expected to continue inhibiting consumer spending.                                                        Table 1: Survey Index Results  Measure1 Long-Run average2 Δ month-on-month Aug. July. Aug. 2017 2018 2018  Overall Consumer Sentiment Index 96.8 ↓5.2 102.9 107.6 102.4  Index of Current Conditions 111.2 ↓5.7 117.0 128.9 123.2  Index of Consumer Expectations 87.0 ↓5.0 93.3 93.4 88.4               Personal Financial Situation over last 12 months 88.2 ↓3.3 103.2 110.8 107.5  Personal Financial Situation over next 12 months 107.3 ↓5.8 118.2 121.4 115.6  General Economic Outlook 68.1 ↓6.4 71.7 70.6 64.2  Outlook for Unemployment 90.1 ↓1.3 94.4 91.6 90.4  Major Purchases 130.3 ↓7.6 128.4 143.7 136.1  (1) Index values: Quarter 4, 1995 = 100.      (2) Average value between August 2013 and August 2018     KBC Bank Ireland, Sandwith Street, Dublin 2, Tel: 01-664 6889, Fax: 01-664 6898, Web: www.kbc.ie  ESRI, Whitaker Square, Sir John Rogerson's Quay, Dublin 2, Tel: 01-863 2000, Web: www.esri.ie   Disclaimer This report has been reviewed prior to publication. The authors are solely responsible for the content and the views expressed.  Notes The Index of Consumer Expectations is based on consumers’ perceptions of their future financial situation, their economic outlook for the country as a whole and employment expectations. The Index of Current Economic Conditions is based on how consumers feel about their current financial circumstance compared with 12 months ago, as well as their perception of the current buying environment for large household purchases.   The data are obtained from telephone interviews during the first two weeks of the month with around 800 completed questionnaires. The data are re-weighted in line with gender, age and level of educational attainment to ensure the data were fully representative of the national population of adults. Each index is calculated by computing the relative scores (the percent giving favourable replies minus the percent giving unfavourable replies (the balance), plus 100) for each question used in the different indices. Those who reply “Don’t Know”, “Remain the same” are excluded from the index calculations. Each relative score is rounded to the nearest whole number. The sum of the relative scores is then divided by the base period total for each index. More details on www.esri.ie.                                                         For further information contact   Austin Hughes – Chief Economist, KBC Bank Ireland– (01) 664 6889 or Philip Economides – Research Assistant, ESRI – (01) 863 2045 Conor O’Toole – Senior Research Officer, ESRI – (01) 863 2046  Historic data from April 1996 are available on the ESRI website, www.esri.ie and on the KBC Bank Ireland website, www.kbc.ie. The most recent releases are also available on the website.KBC Bank Ireland, Sandwith Street, Dublin 2, Tel: 01-664 6889, Fax: 01-664 6898, Web: www.kbc.ie  ESRI, Whitaker Square, Sir John Rogerson's Quay, Dublin 2, Tel: 01-863 2000, Web: www.esri.ie    

Consumer Sentiment Index, August 2018

Consumer Sentiment Index fell in August 2017, down from 105.1 to 102.9 (Chart 1). This represents the first decline in the index since February and bucks the trend of rising sentiment seen since the beginning of the year. However, sentiment is still rising on a three month moving average basis. The fall in the index has been driven by heightened negativity amongst Irish households in regard to their views on current economic conditions. Consumer expectations regarding future developments continue to improve

            CONSUMER SENTIMENT INDEX, AUGUST 2017        Consumer Sentiment Index fell in August 2017, down from 105.1 to 102.9 (Chart 1). This represents the first decline in the index since February and bucks the trend of rising sentiment seen since the beginning of the year. However, sentiment is still rising on a three month moving average basis. The fall in the index has been driven by heightened negativity amongst Irish households in regard to their views on current economic conditions. Consumer expectations regarding future developments continue to improve.    Current Economic Situation  The general decline in the Consumer Sentiment Index in August 2017 has been driven by a marked deterioration in households views on current economic conditions. The Index of Current Economic Conditions (Chart 2) fell by 7.6 index points to 117.0 in August 2017. This is below the level one year ago. A look under the hood as to what is driving these dynamics shows the fall is mainly driven by a sizable decline in households’ views of the current period being a good time to make purchases of large household items.    Consumers’ outlook on future economic developments, as captured by the Index of Consumer Expectations (Chart 3), posted a modest rise in August 2017. This is driven by strong, positive expectations for economic growth and improvements in the labour market. However, such bullish expectations on the general economic outlook are contrasted with deteriorating views on consumers’ own financial situation for the coming 12 months.                        Pe  KBC Bank Ireland, Sandwith Street, Dublin 2, Tel: 01-664 6889, Fax: 01-664 6898, Web: www.kbc.ie  ESRI, Whitaker Square, Sir John Rogerson's Quay, Dublin 2, Tel: 01-863 2000, Web: www.esri.ie   Personal Financial Situation  In August 2017, households reported a deterioration in their current financial situation relative to 12 months ago, with the index falling by a modest 0.1 index points. Furthermore, households are even more pessimistic in regard to the outlook for their own personal finances over the next 12 months with the index falling 1.8 points relative to July 2017. The evidence indicates an ongoing split between household’s views on the broader economy, which point to a strong recovery, and their own personal circumstances, about which they are more pessimistic.       .                                                                         Table 1: Survey Index Results  Measure1 Long-Run average2 Δ month-on-month August July August  2016 2017 2017  Overall Consumer Sentiment Index 88.3 ↓2.3 102.7 105.1 102.9  Index of Current Conditions 102.3 ↓7.6 120.4 124.6 117.0  Index of Consumer Expectations 78.9 ↑1.3 90.8 92.0 93.3               Personal Financial Situation over last 12 months 75.7 ↓0.1 96 103.3 103.2  Personal Financial Situation over next 12 months 95.4 ↓1.8 119 120.0 118.2  General Economic Outlook 62.8 ↑3.7 67 68.0 71.7  Outlook for Unemployment 82.5 ↑1.8 92 92.6 94.4  Major Purchases 124.2 ↓13.8 141 142.2 128.4  (1) Index values: Quarter 4, 1995 = 100.      (2) Average value between August 2012 and August 2017.                 CONSUMER SENTIMENT INDEX, AUGUST 2017   Disclaimer This report has been reviewed prior to publication. The authors are solely responsible for the content and the views expressed.  Notes The Index of Consumer Expectations is based on consumers’ perceptions of their future financial situation, their economic outlook for the country as a whole and employment expectations. The Index of Current Economic Conditions is based on how consumers feel about their current financial circumstance compared with 12 months ago, as well as their perception of the current buying environment for large household purchases.   The data are obtained from telephone interviews during the first two weeks of the month with around 800 completed questionnaires. The data are re-weighted in line with gender, age and level of educational attainment to ensure the data were fully representative of the national population of adults. Each index is calculated by computing the relative scores (the percent giving favourable replies minus the percent giving unfavourable replies (the balance), plus 100) for each question used in the different indices. Those who reply “Don’t Know”, “Remain the same” are excluded from the index calculations. Each relative score is rounded to the nearest whole number. The sum of the relative scores is then divided by the base period total for each index. More details on www.esri.ie.                                                         For further information contact   Austin Hughes – Chief Economist, KBC Bank Ireland– (01) 664 6889 or Conor O’Toole – Senior Research Officer, ESRI – (01) 863 2046  Historic data from April 1996 are available on the ESRI website, www.esri.ie and on the KBC Bank Ireland website, www.kbc.ie. A detailed methodology note outlining how the indices are constructed and the most recent release are also available on the websites.

Consumer Sentiment Index, August 2017

The Consumer Sentiment Index (Chart 1) starts the

New Year with a modest 2.3 index point rise between

December and January. This positive shift in

sentiment is a common feature of sentiment indices,

often referred to as the ‘January Effect’. While overall

sentiment has somewhat improved, this was entirely

driven by perceived improvements incomes and

household purchases, as captured by the Current

Economic Conditions index

                                     CONSUMER SENTIMENT INDEX, JANUARY 2019     The Consumer Sentiment Index (Chart 1) starts the New Year with a modest 2.3 index point rise between December and January. This positive shift in sentiment is a common feature of sentiment indices, often referred to as the ‘January Effect’. While overall sentiment has somewhat improved, this was entirely driven by perceived improvements incomes and household purchases, as captured by the Current Economic Conditions index.    Current Economic Situation  The Index of Current Economic Conditions tracks developments in consumers’ personal financial situations over the past 12 month as well as their views on whether the present represents a good time to make major purchases. The Index (Chart 2) increased by 5.9 index points between December and January, increasing to 125.1. This improvement relative to December was driven primarily by a greater appetite for major household purchases. From an annualised perspective, the Index experienced its fifth consecutive monthly decline, falling by 4.5 points between January of 2018 and 2019. Household views towards current conditions remains positive, owed largely to the strong recovery period since 2013.  The Index of Consumer Expectations tracks consumers’ outlook with respect to future economic developments over the next year, taking into account expectations of their future personal finances as well as broader economic performance. Compared to December, the Index (Chart 3) fell by 0.1 index points to 81.1. Concerns about the domestic economy and future financial circumstances only slightly outweighed an improved perspective of labour market prospects. As of January 2019, the general economic outlook remains mostly negative (-1.2 points), suggesting the majority of individuals expect weaker economic performance over the next 12 months. This is likely driven by Brexit concerns. In comparison, employment outlooks remain far more optimistic.                           KBC Bank Ireland, Sandwith Street, Dublin 2, Tel: 01-664 6889, Fax: 01-664 6898, Web: www.kbc.ie  ESRI, Whitaker Square, Sir John Rogerson's Quay, Dublin 2, Tel: 01-863 2000, Web: www.esri.ie    Personal Financial Situation  Households have remained confident about their respective financial situations over the last 12 months, as reflected by a 2.0 index point rise between December and January. However, the index is down slightly on a year-on-year basis. Furthermore, fewer households expect future improvements in their personal finances as (-3.0 points) compared to December.  Reviewing positions held in the previous year, this marks a 9.3 index point decline from January 2018. Should Brexit negotiations struggle further over the coming weeks, this may further weaken households’ views as measured by this indicator.                                                           Table 1: Survey Index Results  Measure1 Long-Run average2 Δ month-on-month Jan. Dec. Jan. 2018 2018 2019  Overall Consumer Sentiment Index 98.7 ↑2.3 110.4 96.5 98.8  Index of Current Conditions 113.7 ↑5.9 129.6 119.2 125.1  Index of Consumer Expectations 88.5 ↓0.1 97.5 81.2 81.1               Personal Financial Situation over last 12 months 91.9 ↑2.0 108.0 105.2 107.2  Personal Financial Situation over next 12 months 110.8 ↓3.0 125.6 119.3 116.3  General Economic Outlook 67.9 ↓1.2 73.4 48.5 47.3  Outlook for Unemployment 91.5 ↑6.0 98.0 82.1 88.1  Major Purchases 131.7 ↑9.0 147.4 130.8 139.8  (1) Index values: Quarter 4, 1995 = 100.      (2) Average value between January 2014 and January 2019     KBC Bank Ireland, Sandwith Street, Dublin 2, Tel: 01-664 6889, Fax: 01-664 6898, Web: www.kbc.ie  ESRI, Whitaker Square, Sir John Rogerson's Quay, Dublin 2, Tel: 01-863 2000, Web: www.esri.ie   Disclaimer This report has been reviewed prior to publication. The authors are solely responsible for the content and the views expressed.  Notes The Index of Consumer Expectations is based on consumers’ perceptions of their future financial situation, their economic out look for the country as a whole and employment expectations. The Index of Current Economic Conditions is based on how consumers feel about their current financial circumstance compared with 12 months ago, as well as their perception of the current buying environment for large household purchases.   The data are obtained from telephone interviews during the first two weeks of the month with around 800 completed questionnaires. The data are re-weighted in line with gender, age and level of educational attainment to ensure the data were fully representative of the national population of adults. Each index is calculated by computing the relative scores (the percent giving favourable replies minus the percent giving unfavourable replies (the balance), plus 100) for each question used in the different indices. Those who reply “Don’t Know”, “Remain the same” are excluded from the index calculations. Each relative score is rounded to the nearest whole number. The sum of the relative scores is then divided by the base period total for each index. More details on www.esri.ie.                                                         For further information contact   Austin Hughes – Chief Economist, KBC Bank Ireland– (01) 664 6889 or Philip Economides – Research Assistant, ESRI – (01) 863 2045 Conor O’Toole – Senior Research Officer, ESRI – (01) 863 2046  Historic data from April 1996 are available on the ESRI website, www.esri.ie and on the KBC Bank Ireland website, www.kbc.ie. The most recent releases are also available on the website.KBC Bank Ireland, Sandwith Street, Dublin 2, Tel: 01-664 6889, Fax: 01-664 6898, Web: www.kbc.ie  ESRI, Whitaker Square, Sir John Rogerson's Quay, Dublin 2, Tel: 01-863 2000, Web: www.esri.ie    

Consumer Sentiment Index, January 2019

The Consumer Sentiment Index (Chart 1) fell in June

to 102.1 index points. From both annual and monthly

perspectives, this change represents a broad-based

fall in consumer confidence. As Table 1 highlights,

sentiment was primarily driven down by revised

employment outlooks and a weakened appetite for

major household purchases. While the Consumer

Sentiment Index remains distinctly positive in terms

of the formation of overall attitudes, this decline

coincides with a persistent weakening of consumer

confidence across the Eurozone

                                     CONSUMER SENTIMENT INDEX, JUNE 2018     The Consumer Sentiment Index (Chart 1) fell in June to 102.1 index points. From both annual and monthly perspectives, this change represents a broad-based fall in consumer confidence. As Table 1 highlights, sentiment was primarily driven down by revised employment outlooks and a weakened appetite for major household purchases. While the Consumer Sentiment Index remains distinctly positive in terms of the formation of overall attitudes, this decline coincides with a persistent weakening of consumer confidence across the Eurozone.   Current Economic Situation  The Index of Current Economic Conditions tracks developments in consumers’ personal financial situations over the past 12 month as well as their views on whether the present represents a good time to make major purchases. The Index (Chart 2) fell by 5.9 index points to 119.8 from May 2018. On an annual basis, the Index declined by 3.6 index points. Confidence in improved personal financial situations weakened by 2.0 index points while consumer attitudes towards major household purchases fell by 9.1 index points. For the first half of 2018, the index has fallen in total by 3.2 index points. This marks a notable shift away from significant improvements between January and June of every year since 2010.     The Index of Consumer Expectations tracks consumers’ outlook with respect to future economic developments over the next year, taking into account expectations of their future personal finances as well as broader economic performance. Compared to May, the Index (Chart 3) declined by 3.6 index points to 90.3. Sentiment regarding future economic growth fell marginally by 1.7. Expectations of potential employment levels saw a stronger downward revision, declining by 5.9 index points. Taking into account the first half of 2018, the Index of Consumer Expectations experienced a 0.3 index point increase.                                  KBC Bank Ireland, Sandwith Street, Dublin 2, Tel: 01-664 6889, Fax: 01-664 6898, Web: www.kbc.ie  ESRI, Whitaker Square, Sir John Rogerson's Quay, Dublin 2, Tel: 01-863 2000, Web: www.esri.ie      Personal Financial Situation  In June, fewer households have indicated that their personal financial situations improved over the last 12 months (-2.0 index points). Expected financial situations over the next 12 months also experienced a modest downward revision (-4.3 index points). On an annual basis, views of current and expected financial situations also diminished. These declines in confidence coincide with alarming increases in geopolitical tensions, political instability in Europe and a prolonged period of recovery in the domestic economy. While overall sentiment remains positive, revisions are understandable when facing such an uncertain landscape.                                                        Table 1: Survey Index Results  Measure1 Long-Run average2 Δ month-on-month June. May. June. 2017 2018 2018  Overall Consumer Sentiment Index 95.6 ↓4.5 105.0 106.7 102.1  Index of Current Conditions 109.9 ↓5.9 123.4 125.7 119.8  Index of Consumer Expectations 86.0 ↓3.6 92.7 93.9 90.3               Personal Financial Situation over last 12 months 86.1 ↓2.0 106.1 107.0 105.0  Personal Financial Situation over next 12 months 105.6 ↓4.3 121.4 121.5 117.2  General Economic Outlook 67.4 ↓1.7 68.6 69.5 67.8  Outlook for Unemployment 89.3 ↓5.9 92.2 95.6 89.7  Major Purchases 129.5 ↓9.1 137.6 141.0 131.9  (1) Index values: Quarter 4, 1995 = 100.      (2) Average value between June 2013 and June 2018     KBC Bank Ireland, Sandwith Street, Dublin 2, Tel: 01-664 6889, Fax: 01-664 6898, Web: www.kbc.ie  ESRI, Whitaker Square, Sir John Rogerson's Quay, Dublin 2, Tel: 01-863 2000, Web: www.esri.ie   Disclaimer This report has been reviewed prior to publication. The authors are solely responsible for the content and the views expressed.  Notes The Index of Consumer Expectations is based on consumers’ perceptions of their future financial situation, their economic outlook for the country as a whole and employment expectations. The Index of Current Economic Conditions is based on how consumers feel about their current financial circumstance compared with 12 months ago, as well as their perception of the current buying environment for large household purchases.   The data are obtained from telephone interviews during the first two weeks of the month with around 800 completed questionnaires. The data are re-weighted in line with gender, age and level of educational attainment to ensure the data were fully representative of the national population of adults. Each index is calculated by computing the relative scores (the percent giving favourable replies minus the percent giving unfavourable replies (the balance), plus 100) for each question used in the different indices. Those who reply “Don’t Know”, “Remain the same” are excluded from the index calculations. Each relative score is rounded to the nearest whole number. The sum of the relative scores is then divided by the base period total for each index. More details on www.esri.ie.                                                         For further information contact   Austin Hughes – Chief Economist, KBC Bank Ireland– (01) 664 6889 or Philip Economides – Research Assistant, ESRI – (01) 863 2045 Conor O’Toole – Senior Research Officer, ESRI – (01) 863 2046  Historic data from April 1996 are available on the ESRI website, www.esri.ie and on the KBC Bank Ireland website, www.kbc.ie. The most recent releases are also available on the website.KBC Bank Ireland, Sandwith Street, Dublin 2, Tel: 01-664 6889, Fax: 01-664 6898, Web: www.kbc.ie  ESRI, Whitaker Square, Sir John Rogerson's Quay, Dublin 2, Tel: 01-863 2000, Web: www.esri.ie    

Consumer Sentiment Index, June 2018

The Consumer Sentiment Index (Chart 1) rose

strongly in July to 107.6 index point, up 5.5 points

from June 2018. Sentiment is also up on a year-on-year

basis indicating a strengthened confidence

among consumers as we enter the summer period.

While increased positive sentiment has been

experienced across all subcomponents of Consumer

Sentiment, consumer’s views on current conditions

contributed drove most of the overall gain

                                     CONSUMER SENTIMENT INDEX, JULY 2018      The Consumer Sentiment Index (Chart 1) rose strongly in July to 107.6 index point, up 5.5 points from June 2018. Sentiment is also up on a year-on-year basis indicating a strengthened confidence among consumers as we enter the summer period. While increased positive sentiment has been experienced across all subcomponents of Consumer Sentiment, consumer’s views on current conditions contributed drove most of the overall gain.   Current Economic Situation  The Index of Current Economic Conditions tracks developments in consumers’ personal financial situations over the past 12 month as well as their views on whether the present represents a good time to make major purchases. The Index (Chart 2) rose by 9.1 index points between June and July, reaching 128.9. On an annual basis, confidence in current conditions increased 4.3 index points. While current personal financial situations have improved, it appears the double digit improvement with respect to major household purchases fuelled most of this month’s gain. This displays households increasing confidence that now is a good time to spend and invest.   The Index of Consumer Expectations tracks consumers’ outlook with respect to future economic developments over the next year, taking into account expectations of their future personal finances as well as broader economic performance. Compared to June, the Index (Chart 3) rose by 3.1 index points to 93.4. Sentiment regarding both future economic growth and labour market expectations improved, rising by 2.8 and 1.9 index points, respectively.                                     KBC Bank Ireland, Sandwith Street, Dublin 2, Tel: 01-664 6889, Fax: 01-664 6898, Web: www.kbc.ie  ESRI, Whitaker Square, Sir John Rogerson's Quay, Dublin 2, Tel: 01-863 2000, Web: www.esri.ie    Personal Financial Situation  In July, households have signalled an improvement both in current and expected financial situations. Improved confidence with respect to current financial conditions resulted in a 5.8 index point rise relative to June. Expected financial situations over the next 12 months also improved, increasing by 4.2 index points. Both indicators remain highly positive, suggesting consumers remain optimistic in general about their own personal finances.                                                        Table 1: Survey Index Results  Measure1 Long-Run average2 Δ month-on-month July June July 2017 2018 2018  Overall Consumer Sentiment Index 96.2 ↑5.5 105.1 102.1 107.6  Index of Current Conditions 110.6 ↑9.1 124.6 119.8 128.9  Index of Consumer Expectations 86.5 ↑3.1 92.0 90.3 93.4               Personal Financial Situation over last 12 months 87.1 ↑5.8 103.3 105.0 110.8  Personal Financial Situation over next 12 months 106.5 ↑4.2 120.0 117.2 121.4  General Economic Outlook 67.8 ↑2.8 68.0 67.8 70.6  Outlook for Unemployment 89.7 ↑1.9 92.6 89.7 91.6  Major Purchases 130.0 ↑11.8 142.2 131.9 143.7  (1) Index values: Quarter 4, 1995 = 100.      (2) Average value between July 2013 and July 2018     KBC Bank Ireland, Sandwith Street, Dublin 2, Tel: 01-664 6889, Fax: 01-664 6898, Web: www.kbc.ie  ESRI, Whitaker Square, Sir John Rogerson's Quay, Dublin 2, Tel: 01-863 2000, Web: www.esri.ie   Disclaimer This report has been reviewed prior to publication. The authors are solely responsible for the content and the views expressed.  Notes The Index of Consumer Expectations is based on consumers’ perceptions of their future financial situation, their economic out look for the country as a whole and employment expectations. The Index of Current Economic Conditions is based on how consumers feel about their current financial circumstance compared with 12 months ago, as well as their perception of the current buying environment for large household purchases.   The data are obtained from telephone interviews during the first two weeks of the month with around 800 completed questionnaires. The data are re-weighted in line with gender, age and level of educational attainment to ensure the data were fully representative of the national population of adults. Each index is calculated by computing the relative scores (the percent giving favourable replies minus the percent giving unfavourable replies (the balance), plus 100) for each question used in the different indices. Those who reply “Don’t Know”, “Remain the same” are excluded from the index calculations. Each relative score is rounded to the nearest whole number. The sum of the relative scores is then divided by the base period total for each index. More details on www.esri.ie.                                                         For further information contact   Austin Hughes – Chief Economist, KBC Bank Ireland– (01) 664 6889 or Philip Economides – Research Assistant, ESRI – (01) 863 2045 Conor O’Toole – Senior Research Officer, ESRI – (01) 863 2046  Historic data from April 1996 are available on the ESRI website, www.esri.ie and on the KBC Bank Ireland website, www.kbc.ie. The most recent releases are also available on the website.KBC Bank Ireland, Sandwith Street, Dublin 2, Tel: 01-664 6889, Fax: 01-664 6898, Web: www.kbc.ie  ESRI, Whitaker Square, Sir John Rogerson's Quay, Dublin 2, Tel: 01-863 2000, Web: www.esri.ie    

Consumer Sentiment Index, July 2018

Consumer Sentiment declined marginally overall this

month to 100.5. There were however, clear

differences between certain aspects of the survey

this month. The Index of current conditions fell to

118.0 this month from 122.4 in April. On the other

hand, the Index of consumer expectations increased

marginally compared to last month by 0.5 index

points driven by improving perceptions of expected

household finances. The short term trend has

remained relatively flat in the last few months as

expectations have dis-improved since late last year

while perceptions of current conditions remain

relatively positive

            CONSUMER SENTIMENT INDEX, MAY 2017        Consumer Sentiment declined marginally overall this month to 100.5. There were however, clear differences between certain aspects of the survey this month. The Index of current conditions fell to 118.0 this month from 122.4 in April. On the other hand, the Index of consumer expectations increased marginally compared to last month by 0.5 index points driven by improving perceptions of expected household finances. The short term trend has remained relatively flat in the last few months as expectations have dis-improved since late last year while perceptions of current conditions remain relatively positive.  General Economic Situation  The results of the survey this month point towards elevated uncertainty amongst consumers regarding the outlook for the economy. Consumers in particular are more pessimistic about employment prospects over the next year, falling by 0.8 index points down to 87.7 this month. Respondents also revised down their outlook for the economy as a whole with a 2 percentage point drop in positive responses in May.   The buying climate also weakened compared to last month. This component fell by 5.3 index points down to 133.1 driven by a 6 percentage point fall in the proportion of positive responses indicating consumers are increasingly hesitant to make any large household purchases.                         30405060708090100110120Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17Quarter 4, 1995=100Chart 1: Consumer Sentiment IndexMonthly Index 3 mth moving average5060708090100110120130Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17Quarter 4, 1995=100Chart 3: Index of Current Economic ConditionsMonthly Index 3 mth moving average102030405060708090100110Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17Quarter 4, 1995=100Chart 2: Index of Consumer ExpectationsMonthly Index 3 mth moving averageKBC Bank Ireland, Sandwith Street, Dublin 2, Tel: 01-664 6889, Fax: 01-664 6898, Web: www.kbc.ie  ESRI, Whitaker Square, Sir John Rogerson's Quay, Dublin 2, Tel: 01-863 2000, Web: www.esri.ie    Personal Financial Situation  Views on personal financial situations differed in May. A higher proportion of households view themselves as being relatively worse off financially compared to last year. This is likely to be the driving force behind the weakening buying climate. Expectations of future finances are more positive however despite dimmer views on the labour market. Views on future financial situations have improved compared to last month increasing by just under 5 index points up to 120.3.                                              (1) Index values: Quarter 4, 1995 = 100. (2) Average value between May 2012 and May 2017.  Table 1: Survey Index Results     Measure1 Long-Run average2 Δ month-on-month  May 2016 April 2017 May 2017 Overall Consumer Sentiment Index 86.3  ↓1.5 98.1 102.0  100.5  Index of Current Conditions 100.3 ↓4.4 111.4 122.4 118.0 Index of Consumer Expectations 76.9        ↑0.5 89.1 88.3 88.8       Personal Financial Situation over last 12 months 72.8 ↓3.4 95.2 103.1  99.7  Personal Financial Situation over next 12 months 92.8 ↑4.9 114.5 115.4 120.3 General Economic Outlook  61.3 ↓2.6 67.6 65.3 62.7 Outlook for Unemployment  80.5 ↓0.8 89.0 88.5 87.7 Major Purchases  122.9 ↓5.3 124.8 138.4 133.1 KBC Bank Ireland, Sandwith Street, Dublin 2, Tel: 01-664 6889, Fax: 01-664 6898, Web: www.kbc.ie  ESRI, Whitaker Square, Sir John Rogerson's Quay, Dublin 2, Tel: 01-863 2000, Web: www.esri.ie                Disclaimer This report has been reviewed prior to publication. The authors are solely responsible for the content and the views expressed.  Notes The Index of Consumer Expectations is based on consumers’ perceptions of their future financial situation, their economic outlook for the country as a whole and employment expectations. The Index of Current Economic Conditions is based on how consumers feel about their current financial circumstance compared with 12 months ago, as well as their perception of the current buying environment for large household purchases.   The data are obtained from telephone interviews during the first two weeks of the month with around 800 completed questionnaires. The data are re-weighted in line with gender, age and level of educational attainment to ensure the data were fully representative of the national population of adults. Each index is calculated by computing the relative scores (the percent giving favourable replies minus the percent giving unfavourable replies (the balance), plus 100) for each question used in the different indices. Those who reply “Don’t Know”, “Remain the same” are excluded from the index calculations. Each relative score is rounded to the nearest whole number. The sum of the relative scores is then divided by the base period total for each index. More details on www.esri.ie.                                                         For further information contact   Austin Hughes – Chief Economist, KBC Bank Ireland– (01) 664 6889 or David Duffy – Senior Research Officer, ESRI – (01) 863 2113  Historic data from April 1996 are available on the ESRI website, www.esri.ie and on the KBC Bank Ireland website, www.kbc.ie. A detailed methodology note outlining how the indices are constructed and the most recent release are also available on the websites.KBC Bank Ireland, Sandwith Street, Dublin 2, Tel: 01-664 6889, Fax: 01-664 6898, Web: www.kbc.ie  ESRI, Whitaker Square, Sir John Rogerson's Quay, Dublin 2, Tel: 01-863 2000, Web: www.esri.ie      

Consumer Sentiment Index, May 2017

The Consumer Sentiment Index (Chart 1) increased in

May to 106.7 index points. On an annual basis, the

Index rose by 6.2 points. This improvement mainly

stems from an improved outlook with respect to

current economic conditions: households were more

positive about how their personal financial situation

changed over the past 12 months as well as whether

it was a good time to make larger purchases.

However, consumers’ were a little more restrained in

terms of their future economic outlook

                                     CONSUMER SENTIMENT INDEX, MAY 2018     The Consumer Sentiment Index (Chart 1) increased in May to 106.7 index points. On an annual basis, the Index rose by 6.2 points. This improvement mainly stems from an improved outlook with respect to current economic conditions: households were more positive about how their personal financial situation changed over the past 12 months as well as whether it was a good time to make larger purchases. However, consumers’ were a little more restrained in terms of their future economic outlook.   Current Economic Situation  The Index of Current Economic Conditions tracks developments in consumers’ personal financial situations over the past 12 month as well as their views on whether the present represents a good time to make major purchases. The Index (Chart 2) rose by 5.9 index points to 125.7 for May 2018. On an annual basis, the Index rose by 7.7 index points. Compared to April, households’ views on their personal financial situation improved by 4.0 index points while their attitude towards major household purchases increased by 7.4 index points. The strong performance of both components reflects the ongoing improvement in the domestic economy.   The Index of Consumer Expectations tracks consumers’ outlook with respect to future economic developments over the next year, taking into account expectations of their future personal finances as well as broader economic performance. The Index (Chart 3) rose slightly to 93.9 in May (+0.5 index points). Sentiment regarding future economic growth and expected personal finances fell marginally by 0.1 and 0.7 index points, respectively. Following the 8.7 index point fall in labour market outlooks last month, respondents revised their views slightly upwards, leading to a 3.2 index point rise in May.                                   KBC Bank Ireland, Sandwith Street, Dublin 2, Tel: 01-664 6889, Fax: 01-664 6898, Web: www.kbc.ie  ESRI, Whitaker Square, Sir John Rogerson's Quay, Dublin 2, Tel: 01-863 2000, Web: www.esri.ie     Personal Financial Situation  In May, more households indicated that their personal financial situation improved over the last 12 months (+4.0 index points). Attitudes towards expected financial situations over the next 12 months fell modestly to 121.5 index points. On an annual basis, views of expected financial circumstances improved modestly by 1.2 index points. Although consumers have reported a prolonged period of improved current conditions, they are slightly less bullish in terms of the future outlook. While contributing factors may include continued legacy effects from the previous crisis and Brexit, the results point to many Irish consumers still remaining uncertain as to the future outlook.                                                             Table 1: Survey Index Results  Measure1 Long-Run average2 Δ month-on-month May. Apr. May. 2017 2018 2018  Overall Consumer Sentiment Index 94.9 ↑2.6 100.5 104.0 106.7  Index of Current Conditions 109.2 ↑5.9 118.0 119.8 125.7  Index of Consumer Expectations 85.3 ↑0.5 88.8 93.4 93.9               Personal Financial Situation over last 12 months 85.1 ↑4.0 99.7 103.0 107.0  Personal Financial Situation over next 12 months 104.6 ↓0.7 120.3 122.2 121.5  General Economic Outlook 67.0 ↓0.1 62.7 69.7 69.5  Outlook for Unemployment 88.8 ↑3.2 87.7 92.3 95.6  Major Purchases 129.1 ↑7.4 133.1 133.7 141.0  (1) Index values: Quarter 4, 1995 = 100.      (2) Average value between May 2013 and May 2018     KBC Bank Ireland, Sandwith Street, Dublin 2, Tel: 01-664 6889, Fax: 01-664 6898, Web: www.kbc.ie  ESRI, Whitaker Square, Sir John Rogerson's Quay, Dublin 2, Tel: 01-863 2000, Web: www.esri.ie   Disclaimer This report has been reviewed prior to publication. The authors are solely responsible for the content and the views expressed.  Notes The Index of Consumer Expectations is based on consumers’ perceptions of their future financial situation, their economic out look for the country as a whole and employment expectations. The Index of Current Economic Conditions is based on how consumers feel about their current financial circumstance compared with 12 months ago, as well as their perception of the current buying environment for large household purchases.   The data are obtained from telephone interviews during the first two weeks of the month with around 800 completed questionnaires. The data are re-weighted in line with gender, age and level of educational attainment to ensure the data were fully representative of the national population of adults. Each index is calculated by computing the relative scores (the percent giving favourable replies minus the percent giving unfavourable replies (the balance), plus 100) for each question used in the different indices. Those who reply “Don’t Know”, “Remain the same” are excluded from the index calculations. Each relative score is rounded to the nearest whole number. The sum of the relative scores is then divided by the base period total for each index. More details on www.esri.ie.                                                         For further information contact   Austin Hughes – Chief Economist, KBC Bank Ireland– (01) 664 6889 or Philip Economides – Research Assistant, ESRI – (01) 863 2045 Conor O’Toole – Senior Research Officer, ESRI – (01) 863 2046  Historic data from April 1996 are available on the ESRI website, www.esri.ie and on the KBC Bank Ireland website, www.kbc.ie. The most recent releases are also available on the website.KBC Bank Ireland, Sandwith Street, Dublin 2, Tel: 01-664 6889, Fax: 01-664 6898, Web: www.kbc.ie  ESRI, Whitaker Square, Sir John Rogerson's Quay, Dublin 2, Tel: 01-863 2000, Web: www.esri.ie    

Consumer Sentiment Index, May 2018

http://aei.pitt.edu/101751/1/CSI2017JUL.pdf

Consumer Sentiment Index, June 2018

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