Consumer confidence still high despite February dip

A drop in positivity on household finances led to a marginal dip in consumer mood in February, but it wasn’t enough to signify any major loss of confidence, according to a survey.

The February edition of the monthly consumer sentiment index, from KBC Bank Ireland and the ESRI, shows a reading of 105.8, down from the 15-year high measure of 108.6 noted in January.

“It is often the case that the sentiment index weakens in February as the arrival of post-Christmas bills prompt a scaling back of spending intentions. Moreover, at a time of significant uncertainty worldwide, it is scarcely surprising to see a partial correction of January’s gains,” said Austin Hughes, chief economist at KBC Ireland.