But the report also shows a significant rise in levels of optimism amongst Irish adults, with 60% of adults describing themselves as being “upbeat” compared to just 50% who used that term in the last Reflecting Ireland report in November.
33% of all respondents said they believed they would be better off this time next year, up from 28% in November.
Permanent TSB noted that optimism is higher amongst younger people with 59% aged between 18 and 24 agreeing with that statement and 53% of those aged between 25 and 34.
Meanwhile, 51% of respondents said that they felt the country is moving “in the right direction” – the highest figure who believe this since 2018.
The view that the country is going “in the wrong direction” is shared by 33%, down from 42% in November.
Leontia Fannin, Head of Corporate Affairs at Permanent TSB, said that while the cost-of-living issue is becoming a significant concern, these findings do show that people are quite optimistic about their personal circumstances and the outlook for the coming year.
“Clearly the reopening of the economy post Covid is feeding through to personal optimism and positivity,” she added.