Consumer confidence continues to deteriorate and spend is likely to be impacted.
This wave of the B&A Consumer Confidence Barometer was conducted from the 8th -19th of September.
With the cost-of-living crisis continuing, consumer confidence declines from -62 in August to -79 in September.
More than 4 in 5 (84%) now anticipate the country will be worse off in the coming year, with just 1 in 20 believing the country will be better off. Consumer confidence has dropped to its lowest level since June 2020.
While confidence is low across all demographic groups, women and those living outside Dublin are more pessimistic.
Consumer spend is likely to be impacted, with 2 in 3 expecting to spend less in the coming year – a significant decline from the August level.
3 in 5 expect their disposable income to be lower in the next 12 months, driven by the high inflation
There is also concern about an upcoming recession, and as a result, the outlook for the value of personal assets has deteriorated.