This wave of the Ipsos B&A Consumer Confidence Barometer was conducted from the 5th to the 20th of February.
Consumer confidence has seen a slight recovery in February, with a net rating of -45 (those feeling downbeat versus those feeling more upbeat). This compares with -46 in January.
59% believe that the country will be worse off in the year ahead (down three points), while one in seven (14%) expect the country’s economy to improve.
Relatively speaking, Dubliners continue to be most upbeat. As seen previously, confidence is lowest among Females and C2DEs.
The proportion of households who claim to be “coping” with the rising prices now stands at 66%. Given the war in the Middle East, March will be one to watch. Yet again, nearly one in five (19%) say that they are struggling to some extent.
Inflation has held steady +2.7%. The largest contributors to the February inflation figures were Education, Clothing/Footwear and the Recreation/ Culture sectors.
Unemployment remains below five per cent. This should also be seen in the context of a rising population.
Nearly one in four (23%) believe their personal disposable income will increase over the next 12 months, although over two in five (43%) expect their net income to decline.
Those outside the capital are less upbeat about the next 12 months. 40% of 16–24-year-olds expect their income to increase, along with 29% of ABC1s.
In total, nearly half (48%) think they will spend less over the year ahead, compared to one in seven (15%) planning to spend more. 36% are holding to a steady flight path.
In terms of savings, 47% expect to save less, versus 23% planning to boost their investments.
That said, householders feel that their net asset wealth will increase over the next year – 38% are positive compared to 22% being more fearful.
The gap (those who think their asset value will increase minus those anticipating a decrease) stands at +16%. Still in very much in positive territory.
Survey results are based on a sample of 1,010 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 Ipsos B&A’s Acumen Online Barometer.
For more information, please contact Paul Moran (Director): paul.moran@ipsos.com
