Irish Consumer Confidence Rises to 59.4 in May, Reversing April Low

Irish consumer confidence moderately rose in May, reaching an index reading of 59.4, according to an Irish League of Credit Unions survey conducted with Core Research. This reverses over half of the cumulative decrease in confidence from the previous two months, following a four-year low in April. Despite the increase, sentiment remains well below the long-term average of 83.3, though it aligns with the 12-month average of 60.6 to April 2026.

Austin Hughes noted that while all elements concerning household finances increased in May, the largest rise was in the jobs outlook, correcting a significant deterioration seen between March and April. Hughes attributed the overall increase to two factors: a perceived reduction in Middle East conflict risks easing global energy prices, and Irish Government energy support measures and budget data cushioning the blow from higher global energy costs.

Consumer sentiment still indicates significant cost-of-living challenges and economic uncertainty for Irish consumers. Thirteen percent of consumers reported they could not cope with a €1,000 financial emergency, while two in five would use savings. This highlights varying financial resilience, with some consumers comfortable, some coping, and others struggling, mirroring research showing over one in ten Irish households cannot afford a warm home or energy bills.