Consumer sentiment slips in July on cost-of-living woes

Consumer sentiment fell slightly in July on concerns about the cost of living, the latest Credit Union Consumer Sentiment Survey shows today.

The sentiment survey slipped to 61.6 in July from 62.2 in June. That is well below the long-term survey average of 83.2, but above a 40-month low of 53.3 hit in April following a sharp rise in fuel costs as a result of the Middle East conflict.

Sub-indices measuring current conditions, consumer expectations and the economic outlook all fell slightly, the survey showed.

“Concerns about the cost of living continue to outweigh all other economic issues,” said Irish League of Credit Unions CEO David Malone.