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Consumer Pulse

Consumer Pulse

March 2020

At 78.5 in March 2020, the Consumer Pulse was down 5.4 on last month and 4.0 lower than a year ago. Having abated in February, worries about the economic outlook re-surfaced this month as the new government formation talks made little progress and the coronavirus arrived on Irish shores. Households markedly downgraded their assessment of the economy’s prospects for the coming year and were also more circumspect about their personal finances going forward. Buying sentiment dipped this month too, with just over three in ten considering it a good time to purchase big ticket items compared with 35% in February.

Consumer Pulse

March 2020

KEY POINTS

  • Consumer Pulse down in March
  • Households gloomier about the economy
  • And their own financial prospects

Consumer Pulse

March 2020

CONSUMER PULSE

March 2020

78.5

-5.4 on previous index reading

Consumer Pulse

March 2020

”Households’ worries about the economic outlook were back with a bang this month.”

Dr Loretta O’Sullivan
Group Chief Economist
Bank of Ireland

Consumer Pulse

March 2020

General Economic Situation

Past 12 Months
7%
31%
No Change31%
18%
11%
Balance+2%
(Change on previous reading)-2

Consumer Pulse

March 2020

General Economic Situation

Next 12 Months
3%
22%
No Change25%
31%
14%
Balance-15%
(Change on previous reading)-16

Consumer Pulse

March 2020

Unemployment

Next 12 Months
10%
28%
No Change35%
20%
4%

Consumer Pulse

March 2020

Price of goods and services

Next 12 months

Shape Created with Sketch. 70%
23%
2%

Balance +68%

(-1 on previous reading)

 

Consumer Pulse

March 2020

Household Financial Situation

Past 12 Months
5%
19%
No Change56%
13%
6%
Balance+2%
(Change on previous reading)+1

Consumer Pulse

March 2020

Household Financial Situation

Next 12 Months
6%
22%
No Change53%
11%
4%
Balance+8%
(Change on previous reading)-3

Consumer Pulse

March 2020

Top Concerns

  • Paying Household Bills 49%
  • Cost of Renting 46%
  • Tax Burden 42%
  • Rising House Prices 39%
  • Reductions in Income 38%

Consumer Pulse

March 2020

Good time to make major purchases

Yes31%
Neither38%
No29%

Balance +2%

(-11 on previous reading)

 

Consumer Pulse

March 2020

Good time to save

Yes73%
No24%

Balance +50%

(+5 on previous reading)

 

Consumer Pulse

March 2020

Likelihood of saving in the next 12 months

Likely72%
Unlikely27%

Balance +45%

(+1 on previous reading)