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Consumer Pulse

Consumer Pulse

November 2020

The Consumer Pulse came in at 60.3 in November 2020, up 11.8 on last month. A broad based improvement took the index to its highest level since March, though it was still 15.7 lower than a year ago. With virus cases trending down and encouraging developments on the vaccine front helping to reduce uncertainty about the recovery, expectations for the economy and jobs saw the biggest gains this month. The November survey also finds that three in five households are planning to spend the same or more on Christmas presents this year compared with last year. This figure usually runs at three in four however, indicating that consumers remain cautious on the whole.

Consumer Pulse

November 2020

KEY POINTS

  • Consumer Pulse rises in November
  • Highest reading since March
  • Christmas spending down but not out

Consumer Pulse

November 2020

CONSUMER PULSE

November 2020

60.3

+11.8 on previous index reading

Consumer Pulse

November 2020

“The breakthrough on a COVID-19 vaccine has raised households’ hopes of economic recovery in 2021.”

Dr Loretta O’Sullivan
Group Chief Economist
Bank of Ireland

Consumer Pulse

November 2020

General Economic Situation

Past 12 Months
1%
4%
No Change9%
34%
51%
Balance-65%
(Change on previous reading)+3

Consumer Pulse

November 2020

General Economic Situation

Next 12 Months
5%
30%
No Change14%
23%
25%
Balance-16%
(Change on previous reading)+25

Consumer Pulse

November 2020

Unemployment

Next 12 Months
30%
31%
No Change8%
21%
7%

Consumer Pulse

November 2020

Price of goods and services

Next 12 months

Shape Created with Sketch. 66%
28%
4%

Balance +63%

(+9 on previous reading)

 

Consumer Pulse

November 2020

Household Financial Situation

Past 12 Months
4%
13%
No Change58%
18%
6%
Balance-4%
(Change on previous reading)+4

Consumer Pulse

November 2020

Household Financial Situation

Next 12 Months
4%
23%
No Change58%
10%
2%
Balance+8%
(Change on previous reading)+8

Consumer Pulse

November 2020

Top Concerns

  • Reductions in Income 42%
  • Paying Household Bills 39%
  • Tax Burden 35%
  • Cost of Renting 33%
  • Job Security 32%

Consumer Pulse

November 2020

Good time to make major purchases

Yes22%
Neither39%
No36%

Balance -14%

(+1 on previous reading)

 

Consumer Pulse

November 2020

CHRISTMAS 2020 SPENDING PLANS

1%
9%
No Change49%
25%
15%

Consumer Pulse

November 2020

Good time to save

Yes76%
No22%

Balance +54%

(-8 on previous reading)

 

Consumer Pulse

November 2020

Likelihood of saving in the next 12 months

Likely79%
Unlikely21%

Balance +58%

+6 on previous reading)