Consumer confidence slipped back in May, having improved somewhat in April according to the latest B&A Consumer Confidence Barometer.
Following a notable improvement in consumer confidence from March to April, consumer confidence has fallen back slightly in May (from -36 in April to -39 for May) but remains at a high level compared to the past year.
This wave of the B&A Consumer Confidence Barometer was conducted from the 18th-29th of May 2023.
Almost 3 in 5 (57%) expect the country to be worse off in the year ahead, with just 18% expecting the economy to improve.
Consumer confidence is particularly low among women, family life stages, lower social grades and among those living outside Dublin.
The expectation with regard to disposable income in the coming year also sees a decline, with more than twice as many (42%) expecting a decline in income over the coming year than the number of people (21%) expecting an improvement.
This is likely to impact spend, with half expecting to spend less in the coming year and just slightly more than 1 in 10 (12%) expecting to increase their spend.
The previous gap in income and spend outlook between Dublin and the rest of the country has closed, but Dubliners continue to be more positive in terms of the general outlook.
The outlook of the value of personal assets has further improved in May, with the net remaining positive.
Survey results are based on a sample of 991 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.