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Ireland Consumer Confidence Improves For Second Month

Ireland's consumer confidence improved for the second straight month in June after the lockdown triggered by the Covid-19 pandemic was eased, survey data from the KBC Bank Ireland showed on Wednesday.

The consumer confidence index rose to 61.6 in June from 52.3 in May. In the same month last year, the reading was 90.9.

"We would tend to highlight the significant further improvement in Irish consumer sentiment in June as pointing to a somewhat less negative outlook for the economy," KBC Ireland analyst Austin Hughes said.

"However, the cautious tone of responses to questions on personal finances suggests a still fearful and, in many instances, financially damaged Irish consumer."

The current conditions index increased to 77.5 in June from 70.1 in the previous month.

The index of consumer expectation rose to 50.9 in June from 40.4 in the preceding month.

The general economic outlook index increased sharply to 21.2 in June from 9.5 in the preceding month. Outlook for employment rose to 56.2.

The index reflecting household's financial situation for the past 12 months rose to 65.5 in June and those for the next 12 months increased to 75.3.

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