Winter 2010 KBC Bank Ireland / Chartered Accountants Ireland Business Sentiment Survey
21 December 2010
Winter 2010 KBC Bank Ireland / Chartered Accountants Ireland Business Sentiment Survey
Irish Business Both Growing And Slowing At End 2010.
Main Points
- Business activity broadly steady at end 2010 but conditions vary widely between sectors.
- Gap between improving ‘traded’ sectors and weakening domestic demand increasing.
- Slight improvement expected in early 2011 but divergences set to widen further.
- Employment falls modestly as downward pressure on costs intensifies.
- €6 billion budget cuts judged about right but business feels tax increases went too far.
- Government economic forecasts felt to be ‘slightly’ too optimistic but majority feel 4 year plan provides a reasonable framework.
- 61% of businesses feel EU/IMF assistance improves Irish economic outlook while 16% think it worsens prospects.
- Slight majority (56%) also feel Ireland’s membership of EMU has helped economy through crisis but 30% disagree.
- Opinion split on whether ECB has helped or hurt Irish economy.
You can download the full Winter 2010 briefing.
