DAVY VIEW

The ESRI/KBC measure of Irish consumer confidence tumbled in October, back close to its May level during the last lockdown. The fall was concentrated in households’ expectations, illustrating fears of growing COVID-19 cases and the threat of a fresh lockdown. There were modest declines in the current financial situation and climate for major purchases indices. Also, Budget 2021 has had some positive impact. So, as in the summer of 2020, spending and sentiment may rebound quickly when the lockdown ends.