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Consumer Pulse

Consumer Pulse

July 2020

The Consumer Pulse stood at 55.5 in July 2020, down 2.5 on last month and 26.0 lower than a year ago. Worries about the weak state of the economy were to the fore this month amid a tick up in virus cases and a shaky start for the new government. More positively though, the share of households saying that they are holding out on spending eased to 55% (from 61% at the height of the crisis), while one in four considered it a good time to purchase big ticket items like furniture and electrical goods (up from a trough of 13% in April).

Consumer Pulse

July 2020

KEY POINTS

  • Consumer Pulse softer in July
  • Households concerned about the economy
  • Buying sentiment nudges up

Consumer Pulse

July 2020

CONSUMER PULSE

July 2020

55.5

-2.5 on previous index reading

Consumer Pulse

July 2020

“As in a number of other countries, the recovery in consumer confidence stalled this month.”

Dr Loretta O’Sullivan
Group Chief Economist
Bank of Ireland

Consumer Pulse

July 2020

General Economic Situation

Past 12 Months
1%
7%
No Change9%
33%
47%
Balance-59%
(Change on previous reading)-11

Consumer Pulse

July 2020

General Economic Situation

Next 12 Months
3%
25%
No Change8%
29%
33%
Balance-32%
(Change on previous reading)+3

Consumer Pulse

July 2020

Unemployment

Next 12 Months
36%
27%
No Change7%
20%
9%

Consumer Pulse

July 2020

Price of goods and services

Next 12 months

Shape Created with Sketch. 66%
24%
7%

Balance +60%

(+13 on previous reading)

 

Consumer Pulse

July 2020

FINDING OR CHANGING JOB

EASY14%
DIFFICULT77%

Consumer Pulse

July 2020

Household Financial Situation

Past 12 Months
3%
13%
No Change60%
17%
6%
Balance-6%
(Change on previous reading)-3

Consumer Pulse

July 2020

Household Financial Situation

Next 12 Months
4%
19%
No Change52%
17%
6%
Balance0%
(Change on previous reading)+3

Consumer Pulse

July 2020

Top Concerns

  • Reductions in Income 46%
  • Tax Burden 41%
  • Paying Household Bills 41%
  • Cost of Renting 34%
  • Job Security 31%

Consumer Pulse

July 2020

PAY EXPECTATIONS

Next 12 Months

Change Response
Shape Created with Sketch. Increase
>4% 6%
2% to 4% 13%
<2% 8%
Stay more or less the same
54%
Decrease
<2% 4%
2% to 4% 6%
>4% 8%

Consumer Pulse

July 2020

Good time to make major purchases

Yes26%
Neither33%
No40%

Balance -14%

(+8 on previous reading)

 

Consumer Pulse

July 2020

LIKELIHOOD OF BUYING A CAR IN THE NEXT 12 MONTHS

LIKELY22%
UNLIKELY78%

Consumer Pulse

July 2020

Good time to save

Yes78%
No20%

Balance +57%

(0 on previous reading)

 

Consumer Pulse

July 2020

Likelihood of saving in the next 12 months

Likely76%
Unlikely23%

Balance +54%

(+2 on previous reading)