Spring 2010 KBC Bank Ireland / Chartered Accountants Ireland Business Sentiment Survey
07 April 2010
Spring 2010 KBC Bank Ireland / Chartered Accountants Ireland Business Sentiment Survey
Irish Business Outlook Slightly Brighter
Main Points
- Stronger business conditions expected by mid year - most positive reading since Spring 2008.
- Conditions remain tough in early 2010 but slightly better than late 2009 and not nearly as terrible as a year ago.
- Manufacturing and business services see improvement while firms focused on construction and consumers remain weak.
- Job shedding continued in early 2010 although at a slower pace.
- Costs continue to tumble as Irish businesses improve competitive position.
- Irish businesses slightly more worried about near-term economic outlook but starting to focus on stabilising activity and preparing for upturn.
- 1 in 5 firms facing tighter credit conditions. Most believe NAMA will help, but only a little.
- 2/3 of Irish firms have cut pay. The average reduction was 13%.
- Majority of firms in Ireland no longer see cost cutting as primary concern. One in four now focused on upturn.
You can download the full Spring 2010 briefing.
