Irish Businesses Believe Economy Overheating

Directors of Irish business have raised a warning flag to the government believing that the economy is overheating according to the Director Sentiment Monitor, a quarterly survey of director sentiment by the Institute of Directors in Ireland, Business World reported. The survey of 237 of IoD members, including chief executives, senior executives, non-executive directors and chairpersons, shows that 36% are uneasy about the possibility of Ireland’s economy overheating and 43% believe that it may be doing so. As March 2019 grows closer, Ireland’s business leaders believe Brexit is the single biggest risk facing their organization at 26% compared to 18% in the first quarter. The most significant opportunities for growth are expected domestically (39%) followed by the EU (19%). The US has dropped from 18% to 7%. Some 57% of respondents have called for significant improvement in accountability for corporate misconduct followed by greater focus on long-term planning and reporting (54%), explaining the contribution of business to the wider community (44%) and better transparency in financial disclosures (40%). Areas requiring some improvement include shareholder engagement (64%), corporate culture (61%), stakeholder engagement (60%) and explaining the contribution of business to the wider community (48%).