The latest issue of our monthly report on the mood of Irish consumers; their spending and saving intentions; analysed by demographic group and main brand categories.

1. Economic Recovery Index
An Amárach Research Briefing
March 2013
(including analysis by main bank; supermarket; electricity provider)
© Amárach Research
Economic Recovery Index 1

2. Trickle Down Optimism
Call it the St Patrick’s Day lift (or something),
but it looks like the mood was good (or at least
better) in March.
Maybe it’s a case of ‘trickle down emonomics’:
the good news on the macro-front we talked
about in February’s report may finally be
having an impact on the micro-front.
One of the big stories this month is the extent
to which Dublin is pulling away from the rest of
the country when it comes to economic
sentiment and consumer spending intentions.
The recovery is taking root in Dublin – expect
the first green shoots to pop up in the capital
some time before they are evident elsewhere
in the country.
Economic Recovery Index 2

3. The Emotional Recovery
We have been reporting our monthly
Economic Recovery Index since April 2009.
We set out three years ago to assess the
psychological impact of the recession and to
chart our ‘emotional progress’ towards
recovery alongside our ‘economic progress’.
This report summarises our Economic
Recovery Index results from April 2009 to
March 2013.
The most recent fieldwork was conducted
during 11th to 18th March 2013 inclusive.
We have now added historical tables to the
report following requests from a number of
readers.
Economic Recovery Index 3

4. A Matter of Measurement
Every month we survey a representative, online sample of 1,000 adults and ask them to tell us
which one statement ‘best describes the economic situation in Ireland right now’ (listed below)
Our ERI Index has improved steadily since the start of the year, with a declining minority feeling
the economic situation in Ireland is getting worse:
Feb’13: 0% Mar’13: 0%
Feb’13: 4% Mar’13: 5%
Feb’13: 42% Mar’13: 41% Feb’13: 22% Mar’13: 25%
Feb’13: 32% Mar’13: 29%
Economic Recovery Index 4

5. The Economic Recovery Index
Using the answers to the question on ‘stages of recovery’ we have created the Economic
Recovery Index, which ranges from 0 to 100 (0 = deep recession; 100 = back to peak).
Our ERI index in March 2013 stood at 24.0 – its highest since August 2010:
30
25
20
15
10
5
0
Aug
Apr
Aug
Apr
Aug
Apr
Aug
July
July
July
Jun
Sept
Jan'10
Sept
Jan'11
Sept
July
Sept
Jan'13
Nov
Mar
Nov
Mar
Nov
Jan '12
Mar
Nov
Mar
Dec
Dec
Dec
Dec
Oct
Oct
Oct
Oct
Apr '09
Feb
Feb
Feb
Feb
May
May
May
June
June
June
Source: Amárach Research, March 2013
Economic Recovery Index 5

6. ERI Summary Tables I
Which one statement ‘best describes the economic situation in Ireland right now’?
The economic
The economic The economic
The economic The economic situation is
situation is bad situation is Economic
situation in situation is bad getting better
% but showing a good and Recovery
Ireland is but has and showing
few signs of almost fully Index
getting worse stabilized clear signs of
improvement recovered
improvement
Mar-10 36 35 27 2 0 23.5
Mar-11 48 30 20 2 0 19.2
Mar-12 43 29 24 4 0 22.3
Feb-13 42 32 22 4 0 21.8
Mar-13 41 29 25 5 0 24.0
Economic Recovery Index 6

7. ERI Summary Tables II
% agree strongly/slightly with selected statements:
I feel I am Right now it
Ireland will be The news from I am less
financially I am optimistic seems like the
through the other countries worried
comfortable in spite of the recession is
worst of the makes me about
% enough to current affecting other
recession in more confident losing my
make it economic people more
12 months the recession job than I
through the situation than it is
time will end soon was before
recession affecting me
Mar-10 42 43 54 55 40 18
Mar-11 25 36 48 47 21 17
Mar-12 30 40 50 48 23 22
Feb-13 27 36 43 42 18 18
Mar-13 30 40 44 47 21 20
Economic Recovery Index 7

8. ERI Summary Tables III
% agree strongly/slightly with selected statements:
My main
I am more I think that
I am saving a financial I would be
relaxed about now is a good
lot more than priority is to happy to
spending time to buy a
% before pay off my borrow money
money than I house for
because of the debts as from a bank if I
was a few those who
recession quickly as need to
months ago want to
possible
Mar-10 18 25 61 30 64
Mar-11 13 23 58 23 61
Mar-12 18 29 55 24 62
Feb-13 16 26 54 24 58
Mar-13 19 27 53 25 62
Economic Recovery Index 8

9. Staying Power I
% of Irish adults who agree/disagree with the statement:
“I feel I am financially comfortable enough to make it through the recession”
Rest of Conn-
Under Muns- AB
March 2013 TOTAL
25
25-34 35-44 45-54 55+ Dublin Lens-
ter
aught/
C1
ter Ulster
Weighted Sample 1018 172 227 190 159 270 284 271 282 181 486
Strongly Agree 10% 11% 11% 8% 6% 14% 13% 9% 9% 10% 11%
Slightly Agree 29% 30% 28% 21% 29% 35% 30% 30% 30% 25% 34%
Neither/Nor 11% 14% 10% 12% 9% 11% 12% 10% 13% 11% 12%
Slightly Disagree 21% 23% 21% 24% 19% 18% 22% 21% 20% 20% 22%
Strongly Disagree 26% 19% 26% 32% 36% 20% 20% 27% 26% 32% 18%
Source: Amárach Research, March 2013
Economic Recovery Index 9

10. Staying Power II
% of Irish adults who agree/disagree with the statement (x main bank/supermarket/electricity):
“I feel I am financially comfortable enough to make it through the recession”
Ulster Electric Bord
March 2013 TOTAL AIB BoI PTSB
Bank
Tesco Dunnes Aldi
Ireland Gais
Airtricity
Weighted Sample 1018 353 279 149 143 363 152 171 512 205 279
Strongly Agree 10% 11% 11% 7% 13% 9% 11% 6% 9% 14% 10%
Slightly Agree 29% 34% 30% 27% 25% 29% 38% 24% 30% 31% 26%
Neither/Nor 11% 12% 11% 11% 8% 11% 10% 10% 11% 14% 11%
Slightly Disagree 21% 19% 17% 24% 25% 25% 10% 25% 21% 18% 22%
Strongly Disagree 26% 22% 28% 29% 26% 24% 30% 32% 26% 21% 28%
Source: Amárach Research, March 2013
Economic Recovery Index 10

11. Small Spenders I
% of Irish adults who agree/disagree with the statement:
“I am more relaxed about spending money than I was a few months ago”
Rest of Conn-
Under Muns- AB
March 2013 TOTAL
25
25-34 35-44 45-54 55+ Dublin Lens-
ter
aught/
C1
ter Ulster
Weighted Sample 1018 172 227 190 159 270 284 271 282 181 486
Strongly Agree 5% 5% 8% 1% 4% 5% 6% 6% 3% 3% 5%
Slightly Agree 15% 17% 17% 17% 9% 13% 16% 15% 14% 15% 15%
Neither/Nor 14% 19% 15% 11% 6% 16% 14% 14% 15% 13% 17%
Slightly Disagree 27% 26% 27% 27% 26% 29% 26% 29% 30% 23% 30%
Strongly Disagree 39% 30% 32% 44% 55% 37% 37% 36% 38% 47% 32%
Source: Amárach Research, March 2013
Economic Recovery Index 11

12. Small Spenders II
% of Irish adults who agree/disagree with the statement (x main bank/supermarket/electricity):
“I am more relaxed about spending money than I was a few months ago”
Ulster Electric Bord
March 2013 TOTAL AIB BoI PTSB
Bank
Tesco Dunnes Aldi
Ireland Gais
Airtricity
Weighted Sample 1018 353 279 149 143 363 152 171 512 205 279
Strongly Agree 5% 5% 3% 5% 5% 5% 6% 6% 4% 4% 5%
Slightly Agree 17% 13% 11% 16% 14% 16% 13% 11% 23% 16% 17%
Neither/Nor 14% 17% 12% 14% 15% 13% 11% 15% 13% 13% 14%
Slightly Disagree 28% 29% 30% 23% 30% 27% 21% 28% 27% 26% 28%
Strongly Disagree 35% 37% 43% 41% 35% 38% 49% 39% 32% 42% 35%
Source: Amárach Research, March 2013
Economic Recovery Index 12

13. The Mood of the Nation 1
Did you experience any of these feelings a lot of the day yesterday?
% saying Yes: April 2009 to March 2013
70%
60%
50%
40%
30%
20%
Enjoyment Happiness Stress Worry
10%
0%
Apr '09
Apr '10
Apr '11
July
July
Nov
Dec
Nov
Dec
Nov
Dec
Apr'12
July
Nov
Dec
Oct
Oct
Oct
Oct
Jun
Sept
Jan
Sept
Jan
Sept
Jan
Sept
Jul
Jan-13
May
June
June
Feb
Mar
Feb
May
June
Mar
Feb
Mar
Feb
Mar
Aug
Aug
Aug
Aug
May
May
Source: Amárach Research, March 2013
Economic Recovery Index 13

14. The Mood of the Nation 2
Did you experience any of these feelings a lot of the day yesterday?
% saying Yes: April 2009 to March 2013
40%
35%
30%
25%
20%
15%
10% Anxiety Sadness Pain Anger
5%
0%
Apr
Apr
Apr
Aug
June
Aug
June
Aug
Jun
Jul
Aug
Nov
Dec
July
Nov
Dec
Apr '09
Feb
July
Nov
Dec
July
Nov
Dec
Oct
Oct
Oct
Oct
May
Feb
May
May
Feb
May
Sept
Mar
Sept
Mar
Sept
Mar
Sept
Jan'13
Feb
Mar
Jan'10
Jan'11
Jan'12
June
Source: Amárach Research, March 2013
Economic Recovery Index 14

15. ERI Summary Tables IV
Did you experience any of these feelings a lot of the day yesterday?
% saying Yes:
Enjoy Happ-
% Stress Worry Anxiety Sadness Pain Anger
-ment iness
Mar-10 56 55 48 40 32 18 24 17
Mar-11 53 50 43 39 29 16 20 16
Mar-12 57 55 41 34 28 19 21 16
Feb-13 54 51 46 39 29 21 25 14
Mar-13 54 52 45 41 31 22 24 20
Economic Recovery Index 15

16. Changing Moods I
Did you experience any of these feelings a lot of the day yesterday?
% saying Yes: March 2013
Rest of Conn-
Under Muns- AB
March 2013 TOTAL
25
25-34 35-44 45-54 55+ Dublin Lens-
ter
aught/
C1
ter Ulster
Weighted Sample 1001 494 506 169 223 187 156 265 477 523 623
Enjoyment 54% 60% 50% 51% 52% 58% 58% 54% 50% 55% 59%
Happiness 52% 61% 52% 57% 43% 51% 55% 52% 51% 51% 57%
Stress 45% 56% 49% 56% 41% 28% 43% 46% 45% 47% 43%
Worry 41% 45% 45% 53% 41% 26% 40% 48% 36% 39% 38%
Anxiety 31% 36% 32% 37% 28% 23% 31% 31% 29% 32% 30%
Boredom 29% 44% 35% 30% 26% 15% 26% 29% 31% 28% 26%
Physical Pain 24% 21% 21% 27% 25% 27% 23% 24% 25% 27% 19%
Sadness 22% 27% 27% 23% 21% 14% 23% 23% 18% 23% 18%
Anger 20% 22% 25% 27% 18% 10% 20% 19% 18% 22% 16%
Fear 12% 12% 15% 19% 10% 5% 11% 12% 12% 14% 8%
Source: Amárach Research, March 2013
Economic Recovery Index 16

17. Changing Moods II
Did you experience any of these feelings a lot of the day yesterday?
% saying Yes: March 2013 (x main bank/supermarket/electricity)
Ulster Electric Bord
March 2013 TOTAL AIB BoI PTSB
Bank
Tesco Dunnes Aldi
Ireland Gais
Airtricity
Weighted Sample 1008 353 279 149 143 363 152 171 512 205 279
Enjoyment 54% 54% 56% 51% 57% 58% 53% 53% 53% 62% 53%
Happiness 52% 55% 51% 48% 49% 55% 51% 49% 52% 53% 52%
Stress 45% 44% 44% 41% 47% 45% 42% 54% 41% 47% 48%
Worry 41% 38% 44% 40% 41% 45% 37% 51% 42% 41% 38%
Anxiety 31% 30% 30% 33% 29% 30% 27% 41% 29% 35% 30%
Boredom 29% 28% 31% 27% 32% 30% 27% 32% 30% 28% 25%
Physical Pain 24% 21% 23% 25% 30% 24% 23% 23% 23% 28% 25%
Sadness 22% 20% 24% 18% 21% 22% 20% 26% 21% 22% 21%
Anger 20% 18% 21% 21% 20% 21% 18% 24% 19% 22% 20%
Fear 12% 11% 12% 11% 12% 13% 11% 12% 10% 13% 13%
Source: Amárach Research, March 2013
Economic Recovery Index 17

18. ERI Resources
We have created a dedicated resource
on the Amárach website for those
interested in exploring our Economic
Recovery Index further.
It includes links to previous issues as
well as to a spreadsheet containing
monthly values for all the component
parts of the ERI – and more besides –
going right back to April 2009.
There is also a link to a special data
visualisation facility we have created in
partnership with Delphi Analytics.
Economic Recovery Index 18

19. Drivers & Drinking
About Amárach
Amárach Research is an independent market
research agency, providing a full range of
research services to our Irish and international
clients. Amárach specialises in turning
information into insight; and insight into foresight.
Amárach’s experienced team of 30 directors and
executives manage online, face-to-face and cati
surveys (through our call centre); as well as
qualitative research including focus groups, in-
depths and ethnographic studies. We also
delivers a world class field-only service to
universities and international agencies.
Over nearly 25 years, Amárach has pioneered
innovative research techniques and reported on
Irish social, lifestyle and tech trends since the
1980s. Amárach invests heavily in understanding
current Irish consumer and business trends, and
shares numerous, free reports and presentations
via our blog and slideshare sites, linked via our
main website: www.amarach.com

20. Trends Report
Call us on 01 410 5200 if you want your business to
bounce forward to success:
Mark Nolan Managing Director
or Michael McLoughlin Chief Executive
or Gerard O’Neill Chairman
for a confidential discussion about your needs and to
explore how we can help you succeed through world
class market research.
e. gerard.oneill@amarach.com
w. www.amarach.com
b. www.amarach.com/blog
t. twitter.com/AmarachResearch