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Consumer Pulse

Consumer Pulse

February 2021

Having started 2021 on a soft note, the Consumer Pulse rose in February; coming in at 67.2. This was 6.8 higher than last month’s reading but down 16.8 on a year ago. While the extension of the public health measures saw households lower their assessment of the current economic situation this month, progress on the vaccination front lifted recovery hopes and the headline index. This month’s survey also looked at households’ savings and investments. The results show that deposit/savings accounts continue to dominate but that interest in financial assets like shares and in property has increased a little, with two in five indicating that they consider it a good time to invest in such things (typically it is a third).

Consumer Pulse

February 2021

KEY POINTS

  • Consumer Pulse rebounds in February
  • Buying sentiment ticks up
  • Saving intentions still elevated

Consumer Pulse

February 2021

CONSUMER PULSE

February 2021

67.2

+6.8 on previous index reading

Consumer Pulse

February 2021

“Households were more sanguine about prospects for the economy and jobs in February.”

Dr Loretta O’Sullivan
Group Chief Economist
Bank of Ireland

Consumer Pulse

February 2021

General Economic Situation

Past 12 Months
0%
3%
No Change8%
32%
55%
Balance-70%
(Change on previous reading)-5

Consumer Pulse

February 2021

General Economic Situation

Next 12 Months
8%
38%
No Change12%
21%
20%
Balance-4%
(Change on previous reading)+13

Consumer Pulse

February 2021

Unemployment

Next 12 Months
23%
25%
No Change8%
27%
14%

Consumer Pulse

February 2021

Price of goods and services

Next 12 months

Shape Created with Sketch. 75%
22%
2%

Balance +73%

(+4 on previous reading)

 

Consumer Pulse

February 2021

Household Financial Situation

Past 12 Months
6%
16%
No Change57%
14%
6%
Balance0%
(Change on previous reading)+4

Consumer Pulse

February 2021

Household Financial Situation

Next 12 Months
6%
26%
No Change55%
10%
2%
Balance+12%
(Change on previous reading)+5

Consumer Pulse

February 2021

Top Concerns

  • Paying Household Bills 40%
  • Reductions in Income 37%
  • Tax Burden 35%
  • Cost of Renting 34%
  • Job Security 29%

Consumer Pulse

February 2021

Good time to make major purchases

Yes27%
Neither34%
No36%

Balance -9%

(+4 on previous reading)

 

Consumer Pulse

February 2021

Good time to save

Yes77%
No21%

Balance +57%

(-2 on previous reading)

 

Consumer Pulse

February 2021

Likelihood of saving in the next 12 months

Likely79%
Unlikely21%

Balance +58%

(+6 on previous reading)