The Credit Union Consumer Sentiment Index in Ireland jumped to 70.5 in June 2024 from 65.7 in May, the highest in five months as lower energy costs, an ECB rate cut and several upbeat economic releases supported a more positive assessment of the outlook for household finances and the broader Irish economy.

The rebound in sentiment in June also reversed just over half of the cumulative losses seen in four straight month declines between January and May.

Six out of the seven index components improved in June, including Current Conditions (84.9 in June vs 80.7 in May), Consumer Expectations (60.9 vs 55.7), General Economic Outlook (31.1 vs 27.6), Current Personal Financial Situation (76.4 vs 70.5), Future Personal Financial Situation (90.1 vs 78.1) and Major Purchases (93.4 vs 91).

Meanwhile, the Outlook for Unemployment fell slightly to 61.4 from 61.5.

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