DUBLIN, April 27 (Reuters) – Irish consumer sentiment increased sharply to a 13-month high in April on falling energy costs and a less threatening outlook for European Central Bank interest rates, a survey showed on Thursday.
The Credit Union Consumer Sentiment index climbed to 59.2 in April from 53.9 in March. That compares to September’s 14-year low of 42.1 and the 77.0 recorded in February 2022, before Russia’s invasion of Ukraine.
Ireland’s domestic economy weakened late last year but still posted the fastest growth in the euro zone for 2022 and is expected to expand again this year.
“Stronger sentiment seems to be the result of an easing in fears rather than any sense that conditions are improving markedly at present,” the survey’s authors said in a statement.
“Encouraging as the April sentiment reading is, it still suggests the current mood of the Irish consumer is dominated by uncertainty and caution.”