The latest B&A barometer shows a slight improvement in consumer confidence but strong concerns about rising prices remain.
Following a sharp decline in consumer confidence caused by the war in Ukraine and rising prices, consumer confidence is up slightly from -62 in April to -57 in May.
This wave of the B&A Consumer Confidence Barometer was conducted from the 14th – 24th of May 2022.
However, 2 in 3 still believe the country will be worse off in the coming year, with just 1 in 10 believing that we will be better off. Those living outside Dublin are significantly more pessimistic in their outlook than those living in Dublin.
With high inflation, almost half expect their disposable income to be lower in the coming year.
As a result of this, consumers remain cautious in terms of spend but spend intention has improved compared to the low level seen in April.
Outlook for personal assets continues to be net positive, with house prices going up.
Survey results are based on a sample of 1,002 adults aged 16+, quota controlled in terms of age, gender, socio-economic class and region to reflect the profile of the adult population of the Republic of Ireland. All interviewing on this wave was conducted via B&A’s Acumen online barometer.