`Brexit' Takes a Chunk Out of Irish Consumer Confidence: Chartby
Consumer confidence in Ireland has been on a steady upward trend for the past few years, but may have hit a few stumbling blocks. KBC’s sentiment index dropped the most since 2014 in March and is now at a six-month low. The reasons are threefold, according to KBC economist Austin Hughes: a general concern about the world economy, domestic political uncertainty after last month’s inconclusive election, and the “Brexit” vote in the U.K., which is Ireland’s biggest trading partner. While the drop may not indicate a marked change in consumer behavior, it shows they are “sensitive to the risk of more difficult economic times ahead,” Hughes said.