Ireland’s Consumer Sentiment Index to continue under Credit Union and Core Research partnership

The Irish League of Credit Unions has partnered with Core Research,
part of Ireland’s largest marketing company, to undertake the production and publication of the Irish Consumer Sentiment Index from October 2022

Based on a data set stretching back to 1996, the Consumer Sentiment Index will continue to provide a wealth of insight into the Irish economy and Economist, Austin Hughes, will continue to provide analysis and commentary

The methodology underlying the production of the index is unchanged, providing an unparalleled insight into the factors driving the thinking of Irish consumers for more than a quarter of a century

From October 2022, the Irish consumer sentiment index will be produced through a partnership between the Irish League of Credit Unions, and Core Research, part of Ireland’s largest marketing company, Core. Economist, Austin Hughes, who has led the analysis of the sentiment survey across its 26 years of data will continue to oversee the development of the index and will provide monthly analysis and commentary on trends in Irish consumer confidence and their broader economic significance.

This partnership will also see, for the first time, the publication of a quarterly Consumer Sentiment Index for Northern Ireland.

Ireland’s Consumer Sentiment Index was first published in 1996, produced jointly by the Economic and Social Research Institute (ESRI) and the IIB/KBC Bank. Since 2019, the KBC Consumer Sentiment Index has partnered with Core Research to prepare the survey using a consistent methodology based on international best practice.

Economist, Austin Hughes, who has led the analysis of the Index across the 26 years, will continue to oversee the analysis and publication of the monthly tracker.

Referring to the announcement of a new partnership underpinning the production of the Index, Economist Austin Hughes said:

“As is the case with similar surveys internationally, the Irish Consumer Sentiment Index has provided important and early information on emerging trends in the Irish economy. As we now face very turbulent and uncertain circumstances, it is vital that we continue to closely monitor the economic and financial forces shaping the behaviour of Irish consumers.  I’m very pleased to see the Index continue to be produced and to have the opportunity for nearly three decades to examine what it tells us about ongoing changes in Irish consumer thinking.”

Speaking about the partnership David Malone, CEO at The Irish League of Credit Unions (ILCU) said:

“The Irish credit union movement is at the heart of Irish society and the economy. Understanding consumer sentiment is a key part of our role as an organisation. We are pleased to play our part in maintaining this important metric within the economy.”

In addition, Naomi Staff, Managing Director at Core Research said:

“Given the insight provided by an unbroken data set stretching nearly three decades, the Consumer Sentiment Index remains to be an essential barometer for both business and wider society to plan for the future. We are privileged to continue to produce this index and believe it is an important public good to better understand the mood of the Irish consumer and the impact on their consumer and financial behaviour.”