A survey of 1,000 Irish adults about their views on the economy, on spending and saving, and on their emotional wellbeing.

1. Economic Recovery Index
An Amárach Research Briefing
January 2013
Economic Recovery Index © Amárach Research1

2. Emotional Bounce
2013 has got off to a good start – or at
least a ‘less bad’ one (and much better
than last year).
A number of the indicators we track have
picked up – including willingness to
spend (highest since June 2010), and
willingness to borrow (highest since May
2012).
Our overall ERI index is up from 15.4 in
January 2012 to 20.9 in January 2013,
again indicating some improvement in
WEF Global Risk Report 2013: sentiment.
http://www.weforum.org/reports/global-risks-2013-eighth-edition
All in all, our research points to the
continued resilience of the Irish
consumer (a theme picked up in the
World Economic Forum’s recent report)
– suggesting that we are ‘recovery-
ready’ as and when it finally happens…
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’.
Our tracking research has shown the
remarkable emotional strength of the Irish
people, who have consistently reported
‘happiness’ and ‘enjoyment’ as their two most
frequently experienced emotions.
This report summarises our Economic
Recovery Index results from April 2009 to
January 2013.
The most recent fieldwork was conducted
during 14th to 18th January 2013 inclusive.
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 picked up in January 2013, with fewer than half feeling the economic situation in
Ireland is getting worse:
Dec’12: 0% Jan’13: 0%
Dec’12: 3% Jan’13: 3%
Dec’12: 49% Jan’13: 45% Dec’12: 20% Jan’13: 21%
Dec’12: 28% Jan’13: 30%
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).
The weakening we saw in the second half of 2012 has finally reversed:
30
25
20
15
10
5
0
Apr '09 July Sept Nov Jan'10 Mar May July Sept Nov Jan'11 Mar May July Sept Nov Jan '12 Mar May July Sept Nov Jan'13
Source: Amárach Research, January 2013
Economic Recovery Index 5

6. Recovery Outlook 1
% of Irish adults who agree with each statement:
Ireland will be through the worst of the recession in 12 months time:
% agree strongly/slightly
52% 42%
43%
41% 39%
48% 42%
43% 42% 31%
30% 32%
41% 42% 46%
44% 43% 41% 42% 26% 25% 28% 26% 26% 23% 25% 27% 24% 27%
25% 27% 26%
34% 31% 23% 24% 24% 23% 24% 26% 22% 26%
21%
26%18%
Aug
Aug
Aug
Aug
Nov
Nov
Nov
Nov
Oct
Apr
Oct
Apr
Oct
Apr
Oct
Dec
Dec
Dec
Dec
Jan'10
Jan'11
Jan'13
Sept
Sept
Sept
Jan '12
Sept
Jun
Apr '09
July
July
July
July
Mar
Mar
Mar
Feb
Feb
Feb
June
June
June
May
May
May
I am optimistic in spite of the current economic situation:
% agree strongly/slightly
61% 55%
51%51% 50% 53% 51%
50% 47%
65% 48% 48%47% 47% 48% 49%
48% 47%
43% 47%
48% 47%
45% 46% 44%
57%59% 58% 62%
60% 55% 56% 54% 54% 41% 44% 42% 45%
39%
44%
39%
52% 53% 46% 44%33%
Aug
Aug
Aug
Aug
Nov
Nov
Nov
Nov
Oct
Apr
Oct
Apr
Oct
Apr
Oct
Dec
Dec
Dec
Dec
Jan'10
Jan'11
Jan'13
Sept
Sept
Sept
Jan '12
Sept
Jun
Apr '09
July
July
July
July
Mar
Mar
Mar
Feb
Feb
Feb
June
June
June
May
May
May
May
Source: Amárach Research, January 2013
Economic Recovery Index 6

7. Recovery Outlook 2
% of Irish adults who agree with each statement:
I feel I am financially comfortable enough to make it through the recession:
% agree strongly/slightly
47%
50% 46%
45%45% 42%
39% 39%40% 39% 38%38% 41%40% 38% 38%39% 38% 40%
45% 41% 34% 37%36% 34% 34% 34% 37% 36% 35% 34%
51% 47% 48%
48%48% 47% 47% 41%32% 33% 32%
48% 46% 43% 44%
Aug
Aug
Aug
Aug
Nov
Nov
Nov
Nov
Oct
Apr
Oct
Apr
Oct
Apr
Oct
Dec
Dec
Dec
Dec
Jan'10
Jan'11
Jan'13
Jan '12
Sept
Sept
Sept
Sept
Apr '09
Jun
July
July
July
July
Mar
Mar
Mar
June
June
June
Feb
Feb
Feb
May
May
May
May
Right now it seems the recession is affecting other people more than me:
% agree strongly/slightly
55%
56%55% 54%
52% 49% 50% 49% 49% 49% 50%
45%45% 45%47%48% 46% 45%45% 46% 48% 45%45% 46% 47%
59%62%
61% 60% 60%
61% 56% 55%53% 53% 52% 44% 43% 43% 42%44%43%43%
53% 50%
51%
Aug
Aug
Aug
Aug
Nov
Nov
Nov
Nov
Apr
Apr
Apr
Oct
Oct
Oct
Oct
Dec
Dec
Dec
Dec
Jan'10
Jan'11
Jan'13
Sept
Sept
Sept
Sept
Apr '09
Jun
Jan '12
July
July
July
July
Mar
Mar
Mar
June
June
June
Feb
Feb
Feb
May
May
May
May
Economic Recovery Index Source: Amárach Research, January 2013 7

8. Getting Through
% of Irish adults who agree/disagree with the statement (by gender, household income &
presence and age of children):
“I feel I am financially comfortable enough to make it through the recession”
Has
Under AB C2
January 2013 TOTAL Male Female
25
25-34 35-44 45-54 55+
C1 DE
Child
ren
Weighted Sample 494 506 169 223 187 156 265 477 523 658 494
Strongly Agree 16% 9% 18% 14% 7% 11% 13% 13% 12% 13% 16%
Slightly Agree 26% 29% 29% 26% 24% 23% 33% 33% 22% 26% 26%
Neither/Nor 13% 10% 12% 9% 9% 11% 14% 11% 11% 11% 13%
Slightly Disagree 23% 24% 24% 27% 28% 20% 18% 23% 24% 22% 23%
Strongly Disagree 21% 25% 15% 21% 30% 31% 21% 19% 27% 25% 21%
Source: Amárach Research, January 2013
Economic Recovery Index 8

9. Financial Sentiment Indicators
% of Irish adults who agree with each statement: January 2011, 2012, 2013 & December 2012
I am more relaxed about I am saving a lot more
Impact on: spending money than I than before because of the
•Spending was a few months ago recession
•Saving
27%
•Debt 22% 24% 22%
22% 24% 22% 27%
•Borrowing
Jan'11 Jan'12 Dec'12 Jan'13 Jan'11 Jan'12 Dec'12 Jan'13
Paying off debts is my I would be happy to Now is a good time to
main financial priority borrow from a bank if I buy a house for those
need to who want to
59% 57% 54% 57%
58% 61% 62% 64%
24% 27%
22% 22%
Jan'11 Jan'12 Dec'12 Jan'13 Jan'11 Jan'12 Dec'12 Jan'13 Jan'11 Jan'12 Dec'12 Jan'13
Source: Amárach Research, January 2013
Economic Recovery Index 9

10. Purses & Wallets
% of Irish adults who agree/disagree with the statement:
“I am more relaxed about spending than I was a few months ago”
Has
Under AB C2
January 2013 TOTAL Male Female
25
25-34 35-44 45-54 55+
C1 DE
Child
ren
Weighted Sample 494 506 169 223 187 156 265 477 523 658 494
Strongly Agree 6% 9% 4% 14% 6% 3% 3% 6% 7% 6% 6%
Slightly Agree 15% 19% 12% 22% 18% 12% 10% 14% 15% 16% 15%
Neither/Nor 14% 16% 13% 18% 13% 9% 11% 19% 16% 13% 13%
Slightly Disagree 25% 20% 29% 19% 26% 26% 25% 25% 28% 21% 24%
Strongly Disagree 38% 35% 41% 27% 36% 48% 47% 35% 34% 42% 41%
Source: Amárach Research, January 2013
Economic Recovery Index 10

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

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

13. Changing Moods
Did you experience any of these feelings a lot of the day yesterday?
% saying Yes: January 2013
Has
Under AB C2
January 2013 TOTAL Male Female
25
25-34 35-44 45-54 55+
C1 DE
Child
ren
Weighted Sample 494 506 169 223 187 156 265 477 523 658 494
Enjoyment 49% 49% 49% 49% 46% 44% 49% 56% 55% 44% 48%
Happiness 51% 48% 53% 61% 53% 51% 46% 45% 52% 49% 49%
Stress 43% 41% 45% 48% 49% 51% 40% 31% 45% 41% 43%
Worry 43% 39% 48% 46% 44% 53% 44% 35% 42% 45% 43%
Anxiety 32% 33% 32% 36% 38% 32% 27% 28% 32% 32% 32%
Boredom 29% 27% 31% 51% 29% 32% 24% 16% 27% 31% 22%
Physical Pain 26% 25% 26% 29% 24% 22% 22% 30% 25% 26% 28%
Sadness 23% 19% 26% 31% 32% 20% 20% 14% 23% 22% 23%
Anger 19% 20% 18% 25% 20% 21% 14% 14% 18% 19% 19%
Fear 12% 10% 14% 18% 16% 11% 12% 7% 12% 13% 11%
Source: Amárach Research, January 2013
Economic Recovery Index 13

14. 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 14

15. 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

16. 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