Consumer confidence falls despite further softening of inflation and remains at a low level.
This wave of the Ipsos B&A Consumer Confidence Barometer was conducted from the 15th– 26th February 2024.
Despite easing inflation, consumer confidence has slipped from -33 (those feeling downbeat versus those feeling more upbeat) in January to -37 in February. It nevertheless remains higher than the 2023 average of -41. More than half (53%) expect the country to be worse off in the year ahead, with just 16% expect the country to improve in the coming year.
Confidence is lowest among those in the middle-aged bracket, females, and those from lower socio-economic groupings. Sentiment has also slipped across all regions, although Dubliners remain more positive than those living in other regions.
Almost half expect to save less in the coming year – Just one in five (22%) are more positive.
Consumers remain resilient, with two in three (65%) stating that they are “coping” with the cost-of-living crisis. However, nearly one in five (19%) are still facing difficulties.
Notwithstanding the apparent levels of cautiousness, there has been a slight increase in the anticipated value of personal assets over the next 12 months. One in three (34%) believe their net worth will grow, with just 21% fearing a devaluation of their assets in the year ahead.
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