The KBC Bank/ESRI Consumer Sentiment Index. ESRI Research Notes 2015/2/2

Duffy, David and Morley, Ciara and Watson, Dorothy (2015) The KBC Bank/ESRI Consumer Sentiment Index. ESRI Research Notes 2015/2/2. UNSPECIFIED.

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Abstract

Since 2002 KBC Bank and the ESRI have published a monthly Consumer Sentiment Index, building on a dataset that dates back to February 1996. Across many countries, consumer sentiment is a commonly used indicator of consumer spending, which is an important element of economic growth. Trends in this component are important for forecasting and planning. In Ireland, the Consumer Sentiment Index has been used as an input into macro-economic modelling and has also been shown to perform well as a leading indicator of economic trends. Recently, the Consumer Sentiment Index has been used in the ’Nowcasting’ model which forms an input to the short-term forecasts of the Quarterly Economic Commentary.

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