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Consumer Pulse

Consumer Pulse

August 2020

At 52.9 in August 2020, the Consumer Pulse was down 2.6 on last month and 23.1 lower than a year ago. Households were more subdued about their current financial situation this month, and with the incidence of virus cases increasing and the move to phase 4 of the re-opening roadmap deferred, they were gloomier about the economy too (especially in the Rest of Leinster where restrictions have been re-imposed on counties Kildare, Laois and Offaly). Buying sentiment also softened in August, with 21% considering it a good time to purchase big ticket items like furniture and electrical goods compared with 26% in July.

Consumer Pulse

August 2020

KEY POINTS

  • Consumer Pulse dips in August
  • Fresh low for the series
  • Virus and economic worries abound

Consumer Pulse

August 2020

CONSUMER PULSE

August 2020

52.9

-2.6 on previous index reading

Consumer Pulse

August 2020

“Households were on edge again this month, with concerns about the economy in particular persisting.”

Dr Loretta O’Sullivan
Group Chief Economist
Bank of Ireland

Consumer Pulse

August 2020

General Economic Situation

Past 12 Months
1%
4%
No Change10%
33%
52%
Balance-65%
(Change on previous reading)-6

Consumer Pulse

August 2020

General Economic Situation

Next 12 Months
4%
21%
No Change11%
25%
37%
Balance-35%
(Change on previous reading)-3

Consumer Pulse

August 2020

Unemployment

Next 12 Months
36%
30%
No Change7%
18%
8%

Consumer Pulse

August 2020

Price of goods and services

Next 12 months

Shape Created with Sketch. 68%
24%
6%

Balance +61%

(+1 on previous reading)

 

Consumer Pulse

August 2020

Household Financial Situation

Past 12 Months
3%
12%
No Change59%
18%
8%
Balance-8%
(Change on previous reading)-2

Consumer Pulse

August 2020

Household Financial Situation

Next 12 Months
5%
20%
No Change53%
15%
6%
Balance+2%
(Change on previous reading)+2

Consumer Pulse

August 2020

Top Concerns

  • Reductions in Income 45%
  • Paying Household Bills 41%
  • Cost of Renting 36%
  • Job Security 35%
  • Tax Burden 35%

Consumer Pulse

August 2020

Good time to make major purchases

Yes21%
Neither37%
No41%

Balance -19%

(-5 on previous reading)

 

Consumer Pulse

August 2020

Good time to save

Yes75%
No23%

Balance +52%

(-5 on previous reading)

 

Consumer Pulse

August 2020

Likelihood of saving in the next 12 months

Likely74%
Unlikely25%

Balance +49%

(-5 on previous reading)