Irish consumer sentiment holds steady ahead of election

Consumer sentiment was unchanged in Ireland in November with respondents waiting to judge the outcome of this week's Irish general election and potential fallout from the recent US presidential election, a survey showed on Wednesday.

Ireland goes to the polls on Friday with the current centre-right led coalition favourites to be re-elected, however part of the debate has centred on the exposure of Ireland's low-tax business model to potential policy changes in the United States.

The Credit Union Consumer Sentiment index held steady at 74.1, well below its long-term average of 84.3 but considerably higher than the reading of 61.9 a year ago when Ireland was still grappling with high inflation.

"We think the unfolding US election result, the upcoming general election in Ireland and an increasing uncertainty about what the future may hold could have prompted Irish consumers to hit a pause button," the report's authors said.

"In circumstances where concerns about the possible impact of policy changes in the US on the Irish economy attracted considerable attention, an unchanged Irish consumer sentiment reading should probably not be seen in a negative light."

(Reporting by Padraic Halpin; Editing by Sarah Young)