Ireland's consumer confidence improved in June, reversing the previous month's decline, data from a survey by the Economic and Social Research Institute (ESRI) and the KBC Bank Ireland showed Wednesday.
The consumer confidence index increased to 62.3 in June from 61 in May. In April, the reading was 62.5.
The sub-index that measures households' views about the current economic conditions compared to 12 months ago advanced in June, offsetting the previous month's decline. The corresponding indicator moved up to 81.4 from 76.4 in May.
Consumers reported a slight improvement in the current buying climate and their own financial situations during the month, data showed.
The component that gauges households' perceptions of their future economic situation, meanwhile, dropped to 49.5 during the month from 50.6 in May, amid concerned over the fragile economic outlook.
"It should also be noted that the improvement in sentiment in June largely reflects a drop in negative responses rather than any marked increase in positive replies" Austin Hughes of KBC Bank Ireland said. "So, there is no sense Irish consumers expect any dramatic improvement in their circumstances that would prompt much stronger spending."
by RTT Staff Writer
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