Consumer confidence in Ireland declines ahead of Brexit

Just over half ( 58%) of consumers surveyed for the Consumer Mood Monitor expect the Irish economy to stay the same or improve over the next six months – the most pessimistic level recorded since 2012. Breaking that down, under a quarter ( 24%) expect the economy to improve, while 42% expect it will worsen – up from 35% in October 2018.

Irish consumer confidence is being dampened by concerns over the impact of the UK leaving the European Union, with eight in 10 consumers ( 84%) agreeing with the statement ‘I am worried that Brexit will have a negative impact on Ireland’s economy’.

Expectations for consumers’ personal income and employment prospects have not worsened since October – almost half ( 46%) expect to see no change to their disposable income in the next six months, while 22% expect it to increase and 32% expect it to decrease.

Almost a quarter ( 24%) claim to have bought more products online from the UK since the Brexit vote, with 15% saying they have purchased more goods from across the border in Northern Ireland.

The research found that all demographics are concerned by the outcome of Brexit, but women and those within the ABC1 social demographic are more concerned than average.

Red C conducted online interviews with 1,021 respondents using its online panel from 9^th-15^th January 2019.