The latest wave of the B&A Consumer Confidence Barometer shows that consumer sentiment has improved ever so slightly but confidence remains low.
The B&A research was conducted from the 16th -26th of October 2022 and shows Consumer confidence is up from -79 in September to -72 for October.
But confidence remains at a very low level, with 4 in 5 (79%) anticipating that the country will be worse off in the coming year. Just 7% believe that the country will improve in the year ahead.
All demographic groups see an improvement in consumer confidence this month, with females, those aged 35+ and those living outside Dublin being more pessimistic.
With inflation remaining high, half expect their disposable income to be lower in the coming year.
This is likely to have a negative impact on spend, with 3 in 5 expecting to reduce the spend in the year ahead.
Outlook for the value of personal assets has improved in October, but the net remains negative.
The survey results are based on a sample of 1,054 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 was conducted via B&A’s Acumen Online Barometer.
For more details and the full report or more information, please contact Jimmy Larsen and Pooja Sankhe: jimmy@banda.ie and pooja@banda.ie
