As inflation eases a little, consumer confidence has started to improve according to the latest B&A Consumer Barometer report.
This wave of the B&A Consumer Confidence Barometer was conducted from the 12th -20th of April 2023.
With an easing in inflation in the first quarter of the year, consumer confidence has improved significantly to its highest point in the last year.
However, confidence remains at a low level, with more than half (53%) expecting the country to be worse off in the year ahead. Just 17% expect the country to improve in the coming year.
Females, those aged 35 years or older, blue-collar workers and those living outside of Dublin have a more pessimistic outlook. While consumer confidence has improved across all regions, we see a bigger improvement in Dublin.
With more than 1 in 3 (37%) expecting their disposable income to reduce in the year ahead.
With improved consumer confidence, consumers are also more positive in terms of their future spend, and just 1 in 10 (11%) expect to increase the spend.
Despite an easing in property prices, outlook for value of personal assets have improved and is now net positive, especially in Dublin.
Saving intentions also see a significant improvement, with almost 1 in 5 (20%) expecting to save more in the year ahead.
Survey results are based on a sample of 1,069 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.