Consumer sentiment recovers slightly in May as energy cost concerns ease

Economist Austin Hughes said the improvement in consumer sentiment in May could reflect two different developments — a ceasefire in the Middle East and the Irish Government introducing supports in response to the global energy crisis

Economist Austin Hughes said the consumer sentiment survey still points to a 'nervous Irish consumer who sees Irish economic conditions and their own household finances now set on a weakening path'. 

Irish consumer sentiment recovered slightly during May as Government energy supports eased energy prices and the conflict in the Middle East receded, but the survey results still “point towards a consumer facing significant cost-of-living challenges as well as elevated economic uncertainty”.

According to the latest Credit Union Consumer Sentiment Survey, the Irish consumer sentiment index recorded a reading of 59.4 this month — up from 53.3 recorded in April.