Sentiment edges slightly higher in August but Irish consumer mood remains subdued
The results of the latest Credit Union Consumer Sentiment survey, carried out in partnership with CORE Research, are released today (August 28). David Malone, CEO of the Irish League of Credit Unions noted ‘The slight uptick in consumer sentiment is welcome but the general tone of the August survey highlights the financial challenges facing many Irish households at present.”
Key findings include:
- Higher prices driving increased spending on necessities while consumers cut back outlays in other areas
- Only one in ten consumers says their income has grown faster than expected in 2026
- One in five say their income has risen less than expected, two in five say their income hasn’t changed and one in seven say their income has declined
- Consumers are cutting back on nights out, holidays, and leisure activities as the cost of living crisis continues to bite and there is also growing evidence of the emergence of a two-tier Ireland
The Sentiment Survey shows the public is increasingly negative about their own household finances. At the same time, consumers are struggling to deal with the impact of rapid and repeated changes in geopolitical conditions.
The credit union sentiment survey sampled 1,000 adults nationally, and found that 65% of consumers are spending more now than a year ago on necessities such as food, as prices continue to rise. 61% say they are spending more on household bills. A noticeable cutback on spending on going out and purchases of discretionary items is noted.
The broad message from the August sentiment survey is that higher prices are causing Irish consumers to spend more on necessities and cut back in other areas while income growth has largely disappointed this year.
Notably, more women than men said their income had fallen, while those with difficulty making ends meet were more than twice as likely to experience reduced income.
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