Consumer sentiment dips in March as cost of living still bites

Economist and report author Austin Hughes said upward pressure on living costs may have eased but hasn’t yet reversed for consumers. Photograph: Julien Behal/PA Wire

Consumer sentiment is up from the same month last year, as the index reading was 53.9 in March 2023. However, the survey notes that Irish consumer confidence remains subdued and below the long-term average index reading of 84.6. Mr Hughes said this may be explained by the fact that March did not see the same spate of lay-off announcements as February, and that data released in the March survey period showed a drop in unemployment in February and job gains in late 2023.

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