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Consumer Pulse

Consumer Pulse

December 2020

The Consumer Pulse recovered further ground in December 2020, coming in at 66.2 (up 5.9 on last month but down 10.2 on a year ago). Helped by the easing of restrictions at the start of the month and the knowledge that a vaccine is on the way, households were more positive about the general economic situation and their own financial circumstances. Buying sentiment also firmed this month – just over a quarter considered it a good time to purchase big ticket items compared with 22% in November – whereas savings sentiment softened as opportunities for social consumption increased and concerns about job security eased.

Consumer Pulse

December 2020

KEY POINTS

  • Consumer Pulse up in December
  • Economy re-opens ahead of Christmas
  • Increased spending opportunities

Consumer Pulse

December 2020

CONSUMER PULSE

December 2020

66.2

+5.9 on previous index reading

Consumer Pulse

December 2020

“Buoyed by festive and vaccine cheer, the Consumer Pulse rose for a second month running in December.”

Dr Loretta O’Sullivan
Group Chief Economist
Bank of Ireland

Consumer Pulse

December 2020

General Economic Situation

Past 12 Months
1%
4%
No Change10%
38%
45%
Balance-61%
(Change on previous reading)+4

Consumer Pulse

December 2020

General Economic Situation

Next 12 Months
8%
36%
No Change11%
22%
21%
Balance-6%
(Change on previous reading)+10

Consumer Pulse

December 2020

Unemployment

Next 12 Months
21%
34%
No Change10%
25%
10%

Consumer Pulse

December 2020

Price of goods and services

Next 12 months

Shape Created with Sketch. 75%
20%
2%

Balance +73%

(+10 on previous reading)

 

Consumer Pulse

December 2020

Household Financial Situation

Past 12 Months
4%
16%
No Change58%
17%
5%
Balance-2%
(Change on previous reading)+2

Consumer Pulse

December 2020

Household Financial Situation

Next 12 Months
6%
25%
No Change53%
11%
3%
Balance+11%
(Change on previous reading)+3

Consumer Pulse

December 2020

Top Concerns

  • Paying Household Bills 39%
  • Reductions in Income 37%
  • Tax Burden 36%
  • Cost of Renting 33%
  • Job Security 29%

Consumer Pulse

December 2020

Good time to make major purchases

Yes26%
Neither37%
No34%

Balance -8%

(+6 on previous reading)

 

Consumer Pulse

December 2020

Good time to save

Yes75%
No22%

Balance +53%

(-1 on previous reading)

 

Consumer Pulse

December 2020

Likelihood of saving in the next 12 months

Likely77%
Unlikely22%

Balance +54%

-4 on previous reading)