Consumer confidence remains stagnant and in negative territory, despite positive economic indicators, according to the latest Consumer Confidence Barometer.
This wave of the Ipsos B&A Consumer Confidence Barometer was conducted from between May 11 and May 11 2024.
Despite easing inflation and near full employment in the economy, consumer confidence has remained lacklustre in May, with a net rating of -38 (those feeling downbeat versus those feeling more upbeat). It nevertheless remains slightly higher than the 2023 average of -41. Over half (56%) expect the country to be worse off in the year ahead, with 18% expecting the country to improve in the coming year. However, the latter represents an increase of four percentage points since April.
Confidence is lowest among those in the middle-aged bracket, females, and those from lower socio-economic groupings. Sentiment has improved in both Dublin and Connacht/Ulster but has slipped back in Munster. Dubliners continue to be most upbeat.
Almost half expect to save less in the coming year – Just one in five (19%) are more positive.
The proportion of households who claim to be “coping” with the cost-of-living crisis has remained steady – 65% are managing vs. 64% in April. Over one in five (22%) state they are facing difficulties.
While the population are generally quite cautious this month, there is still a belief among many that their net worth (in terms of the value of their personal assets) will grow over the next year– 37% believe their assets overall will increase, with just one in five (22%) adopting a more negative outlook.
Survey results are based on a sample of 1,040 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 details and the full report or more information, please contact Jimmy Larsen, Paul Moran, or Pooja Sankhe: Jimmy.Larsen@ipsos.com, Paul.Moran@ipsos.com, or Pooja.Sankhe@ipsos.com
