The Economic, Consumer, Housing, Business and Regional Pulses are based on data from monthly surveys of consumers and businesses in Ireland. The surveys cover 1000 households, 500 firms in industry, 800 services firms, 500 retailers and 250 firms in the construction sector.
The responses to most questions are summarised as a balance. Balances are calculated as the difference between positive and negative responses (for some questions, where there are several positive and negative response options, a weighted average of responses is used).
The Pulses are calculated by combining the balances for a number of questions. The Consumer Pulse covers households’ assessment of the general economic situation, unemployment and their own financial situation. The Housing Pulse is based on consumers’ expectations for house prices.
The Industry Pulse covers production, employment, order books and stocks. The Services Pulse includes questions on demand/turnover, employment and orders. The Retail Pulse covers sales, employment and stocks. The Construction Pulse includes questions on building activity, employment and order books. The overall Business Pulse combines the Pulses for the business sectors. The Economic Pulse combines the Consumer and Business Pulses.
The Pulses are constructed with reference to the structure of the economy. The value of the Economic, Consumer, Housing and Business Pulses is set equal to 100 in January 2016.