Economic confidence has fallen back on the initial uptick experienced when the country began to reopen during June
This latest wave of the B&A Consumer Confidence Barometer was conducted from 20th–31st August 2020, amid a backdrop of increasing cases, the imposing of local lockdowns and just days before the Irish economy officially entered a recession (9th September 2020).
Against this background, 82% of people feel the country will be worse off economically in 2021. This is a dent in the initial confidence uptick experienced when the country began to reopen during June.
The latest figures also suggest little movement on attitudes towards the value of personal assets, savings and personal income.
There is some marginal improved outlook in spending however, albeit from very low levels (–33 in August from -37% in July).
It is clear that people sense the longer term ramifications of the virus.
In the months ahead, it will be critical to grow confidence that we can function as a society, while the virus exists without a vaccine.
All interviewing on this wave was conducted via B&A’s online barometer.
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