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Consumer Pulse

Consumer Pulse

May 2021

At 76.7 in May 2021, the Consumer Pulse was up 5.0 on last month and 22.8 higher than a year ago. Households upgraded their assessment of the economy and prospects for jobs this month as the easing of restrictions continued. They were also more positive about their current finances and with the vaccine roll-out advancing, a third indicated that they expect to spend more on holidays this year compared with last year. This is a good bit higher than the pre-pandemic average (of a quarter or so) and points to pent up demand, some of which is set to be unlocked in the coming weeks as accommodation services and hospitality re-open.

Consumer Pulse

May 2021

KEY POINTS

  • Consumer Pulse up in May
  • 32% think it is a good time to purchase big ticket items
  • Holidays also on the agenda

Consumer Pulse

May 2021

CONSUMER PULSE

May 2021

76.7

+5.0 on previous index reading

Consumer Pulse

May 2021

“The Consumer Pulse rose for a fourth month running in May, with buying sentiment strengthening too.”

Dr Loretta O’Sullivan
Group Chief Economist
Bank of Ireland

Consumer Pulse

May 2021

General Economic Situation

Past 12 Months
1%
5%
No Change10%
38%
44%
Balance-59%
(Change on previous reading)+4

Consumer Pulse

May 2021

General Economic Situation

Next 12 Months
15%
42%
No Change9%
16%
16%
Balance+12%
(Change on previous reading)+8

Consumer Pulse

May 2021

Unemployment

Next 12 Months
14%
24%
No Change10%
31%
19%

Consumer Pulse

May 2021

Price of goods and services

Next 12 months

Shape Created with Sketch. 75%
21%
2%

Balance +73%

(+4 on previous reading)

 

Consumer Pulse

May 2021

Household Financial Situation

Past 12 Months
7%
17%
No Change53%
15%
6%
Balance+3%
(Change on previous reading)+5

Consumer Pulse

May 2021

Household Financial Situation

Next 12 Months
8%
25%
No Change54%
9%
3%
Balance+13%
(Change on previous reading)-2

Consumer Pulse

May 2021

Good time to make major purchases

Yes32%
Neither40%
No26%

Balance +6%

(+10 on previous reading)

 

Consumer Pulse

May 2021

SPENDING ON HOLIDAYS

This year compared to last year

Shape Created with Sketch. 34%
28%
28%

Consumer Pulse

May 2021

Good time to save

Yes74%
No24%

Balance +50%

(-9 on previous reading)

 

Consumer Pulse

May 2021

Likelihood of saving in the next 12 months

Likely76%
Unlikely23%

Balance +52%

(-6 on previous reading)