Irish Economy on the Rebound
Irish Economy on the Rebound

Irish Economy on the Rebound

Irish Economy on the Rebound

Business activity in Ireland has improved to its strongest reading since late 2015, the KBC Bank Ireland/Chartered Accountants Ireland has found.
Business sentiment index rose to 118 in the summer quarter, from 110.6 three months earlier, The Irish Independent wrote on Wednesday.
The pick-up was driven by stronger business activity levels of late and a further easing in concerns about the outlook for the Irish economy.
The latest increase marks the fourth consecutive quarterly gain, meaning the index has recovered to levels seen before the UK Brexit vote.
“Improvement seen in business sentiment in summer 2017 is really encouraging in that the details of the survey suggest the recovery is now reaching a notably wider range of companies and that earlier fears of a speedy and substantial hit to activity from Brexit have not materialized,” Austin Hughes, chief economist, KBC Bank Ireland, said.
However sentiment remains notably softer than the recent series peak of 131.1 recorded in late 2015.
While fears have eased, continuing uncertainty means companies remain cautious.
The details of the summer survey, particularly in relation to job creation, suggest that companies are responding to still elevated levels of uncertainty by adopting a relatively cautious approach to expansion plans.

  Brexit Jitters
Of the businesses questioned 77% said they now feel they have a strong or some sense of what Brexit may mean for them, with over half of these taking action.
“This is positive in that it suggests Irish business has been proactive in assessing and implementing a response to Brexit rather than being lulled into complacency,” Barry Dempsey, CEO, Chartered Accountants Ireland, said.

Short URL : https://goo.gl/WKxZ9J
  1. https://goo.gl/8VAJt4
  • https://goo.gl/DKcwTf
  • https://goo.gl/WZ9EKR
  • https://goo.gl/k28eSh
  • https://goo.gl/2pvQHA

You can also read ...

China Warned of Ballooning SOEs
Former chief of the World Bank Robert Zoellick cautioned China...
Business confidence fell to its lowest level since August 2013 and around 7% of companies expected a contraction.
According to data from the International Monetary Fund in...
Shrinking unemployment in the US, Japan and the eurozone finally forces companies  to lift wages to retain and attract staff.
Workers in the world's richest countries are getting their...
New Zealand Q2 GDP Growth Picking Up
New Zealand’s economic growth is expected to have accelerated...
Saudi Sovereign Fund Secures $11 Billion Loan
Saudi Arabia's sovereign wealth fund said Monday it had...
Lira Eases Against Dollar
Turkey’s lira weakened against the dollar on Monday as...
By 2025 more than half of all current workplace tasks  will be performed by machines.
Robots will handle 52% of current work tasks by 2025, almost...
Myanmar Businesses Want Lower Taxes
Myanmar businesses are urging the government to lower the...

Add new comment

Read our comment policy before posting your viewpoints