The latest wave of consumer confidence research by B&A shows that confidence improved slightly but still remains rooted in negative territory.
This wave of the B&A Consumer Confidence Barometer was conducted from the 18th-29th of November 2022.
Consumer confidence is up further this month, from -72 in October to -67 in November.
But confidence remains very low, with 3 in 4 (74%) believing Ireland will be worse off in the year ahead. Just 8% feel Ireland with be better off in the next 12 months.
Consumer confidence is lowest among females and those aged 35-54 years. However, consumer confidence is up notably among those living in Connaught/Ulster.
Despite the improvement in consumer confidence, income expectations remain largely unchanged and at a very low level. More than half expect a lower disposable income in the year ahead.
More than 1 in 5 (22%) are having difficulties coping with the cost of living crisis, with 3 in 5 feeling they are coping. Those aged 35-54 and lower social classes are less likely to feel they are coping with the cost of living crisis.
Spending intention also remains low, with more than 3 in 5 (63%) expecting to spend less in the year ahead.
The outlook for the value of personal assets shows a slight decline.
Survey results are based on a sample of 1,003 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.