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Consumer Pulse

Consumer Pulse

January 2018

The Consumer Pulse gained ground in January 2018, coming in at 100. This was up 5.3 on last month’s reading and 5.6 on a year ago. Households upgraded their assessment of the economy this month and, to a lesser extent, their own financial situation. With the post-Christmas sales underway, they were also more upbeat about the buying climate (41% considered it the right time to make major purchases like furniture and electrical goods compared with 34% in December). While some of the improvement this month is due to seasonal effects, the Budget day changes to social welfare payments and income taxes lined pockets in January, as did the rise in the national minimum wage, which helped lift the mood.

 

Consumer Pulse

January 2018

KEY POINTS

  • Consumer Pulse at a two year high in January
  • 27% likely to buy a car in the next 12 months
  • Almost half of workers expect a pay rise

Consumer Pulse

January 2018

CONSUMER PULSE

January 2018

100.0

+5.3 on previous index reading

Consumer Pulse

January 2018

“In January 2016, just 28% of households thought it was easy to find or change job. Two years on and this number has increased to 45%.”

Dr Loretta O’Sullivan
Group Chief Economist
Bank of Ireland

Consumer Pulse

January 2018

General Economic Situation

Past 12 Months
12%
51%
No Change19%
9%
5%
Balance+28%
(Change on previous reading)+9

Consumer Pulse

January 2018

General Economic Situation

Next 12 Months
10%
51%
No Change26%
8%
3%
Balance+28%
(Change on previous reading)+10

Consumer Pulse

January 2018

Unemployment

Next 12 Months
3%
18%
No Change24%
47%
5%

Consumer Pulse

January 2018

Price of goods and services

Next 12 months

Shape Created with Sketch. 70%
25%
2%

Balance +68%

(-1 on previous reading)

 

Consumer Pulse

January 2018

Finding or Changing Job

Easy45%
Difficult47%

Consumer Pulse

January 2018

Household Financial Situation

Past 12 Months
5%
25%
No Change53%
12%
5%
Balance+7%
(Change on previous reading)+3

Consumer Pulse

January 2018

Household Financial Situation

Next 12 Months
6%
32%
No Change48%
9%
2%
Balance+16%
(Change on previous reading)+1

Consumer Pulse

January 2018

Top Concerns

  • Paying Household Bills 51%
  • Cost of Renting 42%
  • Tax Burden 40%
  • Reductions in Income 38%
  • Rising House Prices 37%

Consumer Pulse

January 2018

Pay Expectations

Next 12 Months

Change Response
Shape Created with Sketch. Increase
> 4% 11%
2% to 4% 23%
< 2% 14%
Stay more or less the same
46%
Decrease
< 2% 1%
2% to 4% 1%
> 4% 2%

Consumer Pulse

January 2018

Good time to make major purchases

Yes41%
Neither36%
No18%

Balance +23%

(+11 on previous reading)

 

Consumer Pulse

January 2018

Likelihood of buying a car in the next 12 months

Likely27%
Unlikely72%

Consumer Pulse

January 2018

Good time to save

Yes70%
No27%

Balance +43%

(-1 on previous reading)

 

Consumer Pulse

January 2018

Likelihood of saving in the next 12 months

Likely71%
Unlikely27%

Balance +44%

(+3 on previous reading)