Scottish Consumer Sentiment Indicator: 2024 Quarter 3

Key points

In Q3 2024, the Scottish Consumer Sentiment Indicator turned negative and stood at -0.2, decreasing by 2.6 points compared to Q2 2024 and indicating weakening sentiment over the quarter.

Sentiment remains improved over the past year as a whole, with the indicator increasing 9.7 points compared to Q3 2023. The indicator is stronger than the quarterly series average (-1.7) and at its second highest level since Q1 2022, reflecting the modest improvement in the economic and financial conditions facing households since the start of this year.

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 Q3 2024 was conducted online between 1 July and 30 September 2024, with a total sample size of 3,265 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.