Business confidence substantially improved

Business confidence has overwhelmingly improved to reach its highest reading ever a new survey from business group Ibec reveals.

Its business sentiment survey for the third quarter shows the first overall positive reading since the survey started in 2009.

Moreover, firms’ expectations for the next three months have grown faster than current business confidence, both in their own firms and the economy as a whole, signalling improving prospects driven by expectations of increased sales, a growing customer base and higher profitability.

Fergal O’Brien, head of policy and chief economist with Ibec, said that the survey shows that business conditions are steadily improving and points towards solid economic growth over the coming quarters.

“Recent indicators have also pointed to an improvement in the mood of consumers. It’s good to have the budget over with earlier in the year and we should enter 2014 in a significantly stronger position than recent years. The weak performance of the wider European economy, however, remains a concern.” Source:The Irish Times