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Consumer Pulse

Consumer Pulse

May 2020

The Consumer Pulse stood at 53.9 in May 2020, up 0.7 on last month’s record low but down 34.9 on a year ago. Households lowered their assessment of the current economic situation this month and with the COVID-19 shock impacting incomes and jobs and restricting travel, seven in ten indicated that they expect to spend less on holidays this year compared with last year. Households were also downbeat about the outlook for the economy this month, albeit less so than in April, likely reflecting the announcement of a phased easing of the public health restrictions over the summer.

Consumer Pulse

May 2020

KEY POINTS

  • Consumer Pulse broadly unchanged in May
  • One in six thinks it is a good time to buy big ticket items
  • 75% likely to save in the next 12 months

Consumer Pulse

May 2020

CONSUMER PULSE

May 2020

53.9

+0.7 on previous index reading

Consumer Pulse

May 2020

”It looks like the Consumer Pulse has troughed, with the May reading stable on the month.”

Dr Loretta O’Sullivan
Group Chief Economist
Bank of Ireland

Consumer Pulse

May 2020

General Economic Situation

Past 12 Months
5%
14%
No Change14%
19%
46%
Balance-44%
(Change on previous reading)-31

Consumer Pulse

May 2020

General Economic Situation

Next 12 Months
4%
20%
No Change5%
23%
46%
Balance-44%
(Change on previous reading)+18

Consumer Pulse

May 2020

Unemployment

Next 12 Months
48%
17%
No Change4%
14%
16%

Consumer Pulse

May 2020

Price of goods and services

Next 12 months

Shape Created with Sketch. 56%
24%
17%

Balance +39%

(+11 on previous reading)

 

Consumer Pulse

May 2020

Household Financial Situation

Past 12 Months
3%
15%
No Change56%
18%
7%
Balance-5%
(Change on previous reading)-6

Consumer Pulse

May 2020

Household Financial Situation

Next 12 Months
5%
16%
No Change41%
27%
8%
Balance-9%
(Change on previous reading)+9

Consumer Pulse

May 2020

Top Concerns

  • Reductions in Income 56%
  • Paying Household Bills 41%
  • Job Security 40%
  • Tax Burden 39%
  • Cost of Renting 34%

Consumer Pulse

May 2020

Good time to make major purchases

Yes16%
Neither27%
No56%

Balance -40%

(+14 on previous reading)

 

Consumer Pulse

May 2020

Spending on Holidays

This year compared to last year

Shape Created with Sketch. 5%
19%
70%

Consumer Pulse

May 2020

Good time to save

Yes77%
No21%

Balance +56%

(+6 on previous reading)

 

Consumer Pulse

May 2020

Likelihood of saving in the next 12 months

Likely75%
Unlikely24%

Balance +51%

(+7 on previous reading)