Mid-West consumers report 'bleak' outlook with two-thirds planning cut back on spending

Limerick Chamber has warned that such a gloomy outlook will likely impact local retailers, with 67% holding off on making large purchases

 87% of people foresee additional price hikes as winter and subsequent energy costs loom, with just over a third citing the cost of living as the biggest issue facing the economy. Picture Dan Linehan

More than two-thirds of people in the Mid-West are planning to cut back on discretionary spending reflecting a notably bleaker outlook compared with last year, figures from Limerick Chamber reveal.

Publishing its Consumer Sentiment Survey for summer 2023, the Chamber found that 83% of respondents living across Limerick, Clare and Tipperary do not anticipate an improvement in their financial position, with the vast majority also seeing wages depreciate despite salary increases.