US policy shifts weighed on Irish consumer confidence
Cost-of-living concerns and US policy shifts weighed on Irish consumer confidence in February, according to the latest Credit Union Consumer Sentiment Survey.
The study notes that a spate of announcements of price increases during the month suggest pressure on household finances remains an issue.
While it says increased concerns about the implications of policy changes signalled by the administration of US President Trump have also caused concern.
Of the 1,000 adults surveyed, 67% see US policy changes having a negative impact on the Irish economy, with half of them seeing US policy changes harming their household finances.
Analysing the findings, Economist Austin Hughes said that “given growing concerns around the threat posed by possible changes in US policymaking as well as a tendency towards weakness in February readings, the steady Irish confidence data should probably be seen as encouraging as well as somewhat surprising.
“The vagaries of a noisy and volatile rollout of US policy changes could prompt substantial shifts in Irish consumer confidence in coming months.
“In part, the resilience of Irish consumer sentiment in February reflects the relatively downbeat mood already prevailing that means many Irish consumers have already discounted fairly difficult economic and financial conditions in the year ahead,” he added.
Chief Executive of the Irish League of Credit Unions David Malone said the survey “suggests Irish consumers are bracing themselves for an uncertain economic landscape in 2025. Importantly, in such circumstances, they can be certain of the support of their local credit union to help them navigate the financial opportunities and challenges this may present”.
Article Source – US policy shifts weighed on Irish consumer confidence – RTE
