Consumer sentiment improves to six-month high in January

Reuters

Consumer sentiment improved slightly to hit a six-month high in January as concerns about household finances eased but worries about the broader macroeconomic outlook grew, a survey showed on Monday.

The Credit Union Consumer Sentiment index climbed to 74.9 in January from 73.9 in December. That is well below its long-term average of 84.3 but slightly ahead of the 74.2 reading 12 months ago.

Sentiment about the general economic outlook and outlook for jobs both weakened compared to December.

The data "hints that consumers' concerns about the cost-of-living crisis are easing somewhat although a pullback in spending plans suggests caution still dominates consumer thinking," said David Malone, chief executive of the Irish League of Credit Unions.