DUBLIN (Reuters) -Irish consumer sentiment recovered in August from a near two-year low as concerns about the impact of tariffs on European Union exports to the United States appeared to ease, a
Slight Recovery in Irish Consumer Sentiment Noted for August
Overview of Irish Consumer Sentiment
DUBLIN (Reuters) -Irish consumer sentiment recovered in August from a near two-year low as concerns about the impact of tariffs on European Union exports to the United States appeared to ease, a survey showed on Tuesday.
Survey Results and Analysis
The Credit Union Consumer Sentiment Survey improved to 61.1 in August from 59.1 in July. The reading is below the 72.1 level posted in August 2024 and far lower than the long-term survey average of 83.8.
Ireland is among the countries most exposed to President Donald Trump's sweeping economic policies, with a significant proportion of employment, tax receipts and exports dependent on a cluster of mainly tech and pharmaceutical U.S. multinational companies.
But a late July deal that set a 15% tariff on most EU exports to the U.S. fell well short of widely feared worst-case scenarios and appears to have reduced uncertainty among Irish consumers, the survey's authors said in a statement.
Impact of Tariffs on Consumers
Despite the uptick, "the main message of the survey is that elevated living costs remain a key issue for many Irish households," said David Malone, CEO of the Irish League of Credit Unions.
(Reporting by Conor Humphries; Editing by Sam Tabahriti)
