With inflation easing, we see a significant improvement in consumer confidence.
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 improved consumer confidence, consumers are also more positive in terms of their future income and spend. But both remains at a low level, with more than 1 in 3 (37%) expecting their disposable income to reduce in the year ahead, and just 1 in 10 (11%) expecting 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.