While the economy may be healthy, we are not taking anything for granted.
This wave of the Ipsos B&A Consumer Confidence Barometer was conducted from the 4th – 11th November 2024.
Consumer confidence has slipped back in November. It now stands at a net rating of -22 (those feeling downbeat versus those feeling more upbeat), compared to -16 in October.
Given the backdrop of positive economic indicators (falling inflation, interest rates and near-full employment), this suggests a cautiousness – we are not overly confident and are slightly more pessimistic. Did the American election and the Trump bump in November dim our expectations given our reliance on American FDI?
As in previous findings, females, those from lower social classes and residents living outside the capital are the most pessimistic in their outlook. Interestingly, the generational gap has narrowed, with younger cohorts more downbeat in November.
The proportion of the population that are “coping” with the cost-of-living has slipped back marginally (down two to 67%) and is on a par with the annual average (66%).
Just over one in four feel that their personal income will improve over the next year, representing a sharp decrease (-9%) since October. More feel they will have lower incomes (+3%), leading to overall scores dropping back into negative territory.
Reflecting other indicators, sentiment has retreated in terms of perceived asset growth over the next 12 months; October had been a high point, so we are back to scores seen in the late summer.
Three in five (60%) will maintain or increase their saving habits in the coming year, with a significant minority believing they will reduce the amount that they save.
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For more details and the full report, please contact Paul Moran and Pooja Sankhe: paul.moran@ipsos.com and pooja.sankhe@ipsos.com
The Consumer Confidence report is conducted via the Ipsos B&A Acumen Online Barometer. Our group of research professionals has vast expertise in various omnibus methodologies. View our schedule here: https://banda.ie/research_technique/consumer-omnibus/
