Consumer confidence - What’s the mood in Wales?

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Our afternoon seminar on consumer confidence revealed Welsh consumers are braced to tighten their belts over the forthcoming 12 months.

Using data from our Wales Omnibus survey, Beaufort held a well-attended afternoon seminar in the Park Plaza hotel on 24th November, attracting representatives from a range of business sectors and public sector organisations among many others.

The seminar covered topics such as:

- Do people in Wales feel secure in their jobs?
- Do they have confidence in an economic recovery?
- In what ways are they cutting back on household spending?
- How do they see the future?

Our research shows that over half of the population (52%) believe that the general economic condition of Wales will worsen over the next 12 months, whilst only 12% believe it will improve. Findings were in contrast to the more optimistic view taken towards the end of 2009 (just prior to the UK coming out of recession) when as many thought the economic situation would get better (28%) as thought it would get worse (29%).

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Whilst these results do not necessarily indicate that consumers believe we are heading for a double-dip recession, they do at least point to a degree of uncertainty about the recovery.

The survey also found that around 1 in 3 of those in employment are worried about losing their job. Concern was slightly higher among those working in the public sector (39% worried) than those in the private sector (33%) and this is the reverse of the situation found on the equivalent measure in late 2009.

To find out more on how the media reported findings, click here: http://tinyurl.com/3x8z6jd

If you would like further information on the findings or details of the research, please contact: . 

 

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