May records a slight decline in consumer confidence, following a notable improvement in April.
This wave of the B&A Consumer Confidence Barometer was conducted from the 18th-29th of May 2023.
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.
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.
We have seen the previous gap in income and spend outlook close between Dublin and the rest of the country, but Dubliners continue to be more positive in terms of the general outlook.