Irish consumer sentiment held steady in December, according to the latest Credit Union Consumer Sentiment Index.
The data shows that Irish consumers ended 2024 worried about the economic outlook and still dealing with cost-of-living pressures, but a little less negative about their own household finances for the coming year.
As as result consumers plan to spend more.
In contrast to the largely unchanged Irish sentiment reading, the preliminary reading of US consumer sentiment and UK consumer confidence both reported increases in December.
Austin Hughes, Economist and author of today's report said the mixed December index reflects conflicting forces influencing the economist and financial circumstances of Irish consumers.
"A range of recent commentaries have warned of large and increasing risks to the downside for the Irish economy because of the threat of marked changes in US policymaking and a more fractured global economy," he added.
"However, a different picture is painted by the latest batch of indicators which point to healthy gains in activity and employment in the Irish economy of late," he added.
The December sentiment survey finds increased caution about the outlook for economic activity and jobs.
However, with household incomes now increasing faster than inflation, the December reading also finds consumers less fearful about the prospects for their own household finances in the year ahead and this has also prompted an increase in spending plans.
In a special questions this month, borrowed from Dickens 'A Christmas Carol', the survey asked consumers how the Irish economy now compares to the ghost of its economic past, to other economies at present and to how it may fare in the future.
"Well to butcher the opening line of a Christmas Carol, the Irish economy of our parents' generations (like Marley) was dead to begin with," said Mr Hughes.
"On most 'macro’ metrics, the Irish economy today is far healthier than was the case twenty, thirty or fifty years ago," he added.
