Consumer confidence bounces back at the start of 2017

Consumer confidence in Northern Ireland rose sharply in the first quarter of 2017 as consumers got some more clarity around the Brexit process, according to Danske Bank research.

The Danske Bank Northern Ireland Consumer Confidence Index increased from 132 in 2016 Q4 to 141 in 2017 Q1. The index was four points higher compared with the first quarter of 2016.

  • Consumer confidence in Northern Ireland increased by nine points between the last quarter of 2016 and the first quarter of 2017
  • Over the year, the Consumer Confidence Index rose by four points
  • 35 per cent of consumers plan to holiday abroad this year, but the same proportion of people don’t plan to take a holiday in 2017
  • Households’ expectations of how their financial position will change over the next 12 months, and the amount they will spend on high value items in the next year, both increased by 13 points over the quarter
  • Consumers’ expectations around job security were unchanged in 2017 Q1 compared with 2016 Q4