Scottish Consumer Sentiment Indicator: 2024 Quarter 1

Key Points

In Q1 2024, the Scottish Consumer Sentiment Indicator remained negative and stood at -6.2,  decreasing by 1.1 points compared to Q4 2023 indicating a weakening in sentiment over the quarter. This follows a period of improvement in the quarterly indicator since Q4 2022. Sentiment has improved over the past year as a whole, with the indicator increasing 10.9 points compared to Q1 2023. However, it remains weaker than the series average, reflecting the challenging economic and financial conditions facing households.

Introduction

The Scottish Consumer Sentiment Indicator is a composite measure of consumer sentiment in Scotland based on a quarterly survey of households’ current sentiment and future expectations of: Scottish economic performance, security of households’ financial position, and attitudes to spending money. Excel tables of the results are available online alongside the publication, and include a monthly breakdown of the results.

The latest survey for Q1 2024 was conducted online between 1 January and 31 March 2024, with a total sample size of 3,038 adults. The indicator represents the balance of respondents who report that consumer sentiment is positive/negative.

An Official Statistics in Development Publication for Scotland

These statistics are official statistics in development. Official statistics in development may be new or existing statistics, and will be tested with users, in line with the standards of trustworthiness, quality, and value in the Code of Practice for Statistics.

Scottish Government statistics are regulated by the Office for Statistics Regulation (OSR). OSR sets the standards of trustworthiness, quality and value in the Code of Practice for Statistics that all producers of official statistics should adhere to.