Consumer sentiment rose slightly in April, according to the latest KBC Bank Ireland/ESRI index.
Sentiment remains close to record lows, but did increase from 44.1 in March to 46.8 in April.
However, the report says the increase was not 'unique', as it mirrors a similar trend in other developed countries, including Germany and the US.
But Austin Hughes of KBC was surprised by the figures given the tough supplementary Budget and the high number of recent job losses.
However he does warn against reading too much into them.
'We should be cautious not to make too much of one month's results but, taken at face value, the April sentiment reading points towards a greater measure of resilience among Irish consumers than might have been expected,' he said.
'This isn't to suggest a turning point is close at hand but it may argue against a completely fatalistic view of Irish economic prospects.'
He also suggested that lower interest rates and a wide range of price cuts is making the economic downturn somewhat easier to handle for consumers.
