The Credit Union Consumer Sentiment Index for April reveals a significant decline in consumer confidence in Ireland, primarily driven by concerns over US President Trump's trade policies. Although consumers face rising costs, particularly in groceries, they perceive an uncertain future. Economist Austin Hughes noted that unclear policy changes from the US make it challenging for Irish consumers to navigate their spending behaviors, resulting in a general state of fear and flux. Despite the bleak sentiment, many intend to invest in home improvements over the next two years.
"Exactly how far or how fast Irish economic conditions might weaken in the future remains unclear and subject to rapid and random changes on policy pronouncements from the White House and elsewhere."
"A state of flux, as well as fear, is likely to dominate consumer sentiment and spending in coming months."
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