Northern Ireland consumers becoming a little less worried and more willing to spend in August

Posted on: 16 Sep 2025

Findings from the latest quarterly Credit Union Northern Ireland Consumer Sentiment Survey (in partnership with Core Research) show that Northern Ireland consumer confidence improved significantly between May and August 2025.
 
The upswing in sentiment largely reflects easing concerns around household finances but Northern Ireland consumers became a little less negative about the general economic outlook over the three-month period. However, nervousness around job prospects has increased somewhat.
 
The August 2025 sentiment survey suggests a clear and continuing easing in Northern Ireland consumers concerns around their own household finances. This has been prompted by a faster increase in incomes than in prices of late and has been assisted by falling energy prices and interest rates in recent months. That said, responses to a special question in the August survey emphasise how substantial an impact rising prices of essentials have had on Northern Ireland households in recent years.
 
Overall, the picture painted by the August consumer sentiment survey is one of conditions that remain challenging for many Northern Ireland households but are now moving in a more encouraging direction.
 
The improvement in Northern Ireland consumer sentiment between May and August was notably larger than that seen in the corresponding confidence measure for the Republic of Ireland and contrasts further with a fall in EU consumer confidence over the same period.  The change in consumer mood was more comparable to that seen across the UK as a whole for the past three months. However, the easing in consumer concerns in Northern Ireland over the past year is notably more pronounced than elsewhere.  
 
Speaking on the release of the August data and analysis, Martin Fisher, Northern Ireland Manager with the Irish League of Credit Unions noted; “It is positive to see confidence returning among Northern Irish consumers; however, the latest Credit Union Consumer Sentiment Survey does clearly show a level of continuing caution. Increasing prices for everyday items and concerns for job security illustrate the real challenges for households across Northern Ireland. As always, we would remind people that credit unions are there to support people at every life stage, offering assistance in times of challenge, and the possibility to maximise opportunities”.
 
Austin Hughes, economist, who prepared the analysis noted; “The recent improvement in Northern Ireland consumer sentiment is very encouraging but the details suggest it is largely a case of difficulties easing rather than conditions dramatically improving for most households. The direction of travel is positive, but the journey is still challenging.”
 
The full report with commentary is attached. Key findings include:

• 45% believe the economy will weaken over the next 12 months (down from 52% in May 2025) while 29% believe it will improve (up from 23% in May 2025).

• 41% believe that unemployment will rise over the next 12 months (up from 36% in May 2025). 28% believe it will fall in the next 12 months (down from 30% in May 2025).

• 37% believe the financial situation of their household is worse now than 12 months ago (versus 39% in May 2025), while 33% believe it has improved (versus 28% in May 2025).

• 35% feel the financial situation of their household will improve over the next 12 months (up from 30% recorded in May 2025), while 30% believe it will weaken (versus 36% in February 2025).

• 21% of Northern Ireland consumers believe August was a god time to buy big ticket items (versus 15% in May 2025) and 16% believe it is a bad time (versus 26% in May 2025).

• Northern Ireland consumers are spending more now than a year ago on necessities such as food and household bills while there is also a tendency towards less spending on discretionary items and going out.

  • 69% are spending more on groceries then in 2024.

  • 27% are spending more on their mortgage or rent versus 2024.

  • 61% are spending more on household bills (utilities, insurance etc) versus 2024.

  • 51% are spending less on going out versus 2024.

  • 38% are spending less on discretionary items versus 2024.

• ‘Price increases’ were cited as the major reason for each of the changes in consumer spending over the course of 12 months in the statistics noted above.

 
A full copy of the report is available here.

Ends.
 
About the Northern Ireland Credit Union Consumer Sentiment Survey
The Northern Ireland Credit Union Consumer Sentiment Survey is a quarterly survey of a representative sample of 350 adults. Core Research undertake the survey administration and data collection for the survey. This tranche of the survey was live between the 6th and 24^th August 2025