With the war in the Ukraine entering its sixth week and rampant inflation taking root in the Irish economy, consumer confidence has dropped according to the latest B&A Consumer Confidence Barometer.
This research for the Barometer was conducted between March 3rd and March 14th. According to the Barometer, consumer confidence is now at -52, down from -33 in
February and at its lowest level for more than a year.
Confidence is down across all demographic groups, but women, the 55+ year old’s and those living outside Dublin continue to have the most negative outlook.
According to B&A, with rising inflation, almost half expect their personal finances to worsen in the next 12 months. With less disposable income, almost half of all consumers expect to decrease spend in the next 12 months, with just 1 in 7 expecting to increase spend.
The B&A Consumer Confidence Barometer also shows that savings intention is also down, and consumers are less optimistic in relation to value of personal assets compared to February.
A full copy of the research is HERE