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IRISH BUSINESSES ARE reporting ‘steady rather than spectacular’ improvements in growth and employment, according to the latest KBC Bank Ireland/Chartered Accountants Ireland business sentiment survey.
The number of companies reporting a rise in output was at a seven-year high of 56%, with only 12% recording a decline in activity during the second quarter of the year.
The jobs market also continues to improve, albeit modestly, with a three point climb in the number of firms reporting increased employee numbers to 36%, again the highest level since 2007.
Decline
Despite these gains, the sentiment index for the second three months of the year actually declined slightly when compared to the previous quarter.
KBC said that business owners’ outlook hasn’t improved significantly despite positive news on the macroeconomic front, most notably strong figures for GDP growth in the first half of the year, or the promise of a kinder budget in the Autumn.
The bank said that the results don’t suggest that the Irish economy “is moving onto a notably faster growth trajectory”.
Gradual gains
KBC chief economist Austin Hughes said that the slight dip in business sentiment when compared to the end of last year “may be disappointing but it isn’t at all surprising given the dramatic improvement reported in the second half of last year”.
These results point to step gains of late rather than any seismic change in activity levels. In turn, this reflects the reality of a recovery that is healthy but far from a return to the boom.
Chief executive of CAI Pat Costello said that the results “should be seen as the continuation of very healthy growth rather than any pointer to weaker conditions”.
Stable
Costello added: “It may be the case that compared to the dramatic changes of the past ten years, the current environment looks fairly stable. That said, the majority of those firms focussed on the domestic economy said uncertainty was affecting their business decisions.”
This likely reflects a still early and uneven pick-up in domestic spending.
The report said that consumer spending may be the engine that will drive “a more balanced recovery”, with a catch-up hinted at by the generally improving tone of consumer confidence lately.
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Is there a link to a more detailed breakdown of the plan? It’s going to affect more than just hauliers…
Is there any chance that Irish Ferries would reverse their decision to end the Rosslare to Cherbourg route? It would relieve some pressure at Dublin.
@Harry Comber: there’s a new Rosslare Dunkirk service starting up.
@Harry Comber: IF management are completely useless
Its the governments fault for cramming everything into dublin,it’s a two tier economy.half of irelands GDP comes from dublin alone,totally unsustainable.meanwhile Waterford cork limerick and Galway were starved.the planning in this country is a disgrace
@snotser: When you see who has represented Waterford politically in the past, you’ll understand why nothing has happened there.
Ireland is too Dublin centric.
@The world outside the M50: break it into 4?
And is making Beach/Strand Road in Sandymount one way out of town supposed to help deal with this traffic congestion?
@GClare: oh yes I had forgotten about that ridiculous plan
@Fi Wyse: isn’t that “parked” now?!?
@GClare: I’m not sure how allowing people to drive towards town on the beach road in Sandymount would somehow alleviate traffic at Dublin port?
@Shane Cormican: starting in January apparently
@OnlyHereForTheComments: it will cause backlog on all the Merrion Road and all through Ringsend, Irishtown and Pearce Street, which will lead to backlog all over the area
@GClare: Allowing less traffic to drive from the beach road into irishtown and ringsend will cause backlog all through irishtown and ringsend? I don’t think you’ve thought this complaint through.
@GClare: No port-traffic HGVs use Strand Road, the Port Tunnel was built to direct them away from there, and from the Liffey Quays. The trucks on Strand Road are local traffic, not (directly) affected by Brexit.
Will affect anyone living or working around the IFSC/docks area or living near/using the M50 or any other motorway near any of the ports.
@Jacqueline McCabe: If you live in the area I’d recommend you stockpile bread, johnnies and jax roll.
Going to be fun with driving hours and tacograph rules
Say there’ll be a few smart drivers avoiding the M1 and hitting the likes of the malahide road and Fairview to make the boat on time
Just pull the plug on the UK and when they sink which they will, then we can sail right across to continental Europe in a straight line, any port, just pick one, there’s lots to choose from….. A friend was just sayin’.. ehh!! Just sayin’.
Just a suggestion, but I think we’ll see an increase in UK haulage through Ireland via Northern Ireland as they try to circumvent tariffs so would it be realistic to suggest that Irish haulage takes precedence over Uk haulage or is that too unreasonable?
have your say