Increasing concerns about Brexit keep consumer confidence low
The latest RED C Consumer Mood Monitor from June 2019 shows no change in consumer outlook for the Irish economy, with consumer confidence remaining at the low level recorded in January. Less than 1 in 4 expect the Irish economy to improve in the next 6 months while 2 in 5 expect the economy to fare worse.
The low level of consumer confidence is driven by significant concerns about Brexit and its potential impact on the Irish economy. 86% are worried that Brexit will impact the Irish economy negatively, with 47% being “very concerned” – up from 40% in January.
While spend intention remains unchanged since January, we continue to see a slight negative trend in consumer expectations to their future disposable income. Just 1 in 5 expect their disposable income to improve in the next 6 months while more than 1 in 3 expect their disposable income to go down. If this trend continues, it is likely to impact spend.
Download the full report on the latest RED C Consumer Mood Monitor here: