Business confidence in recovery falls

IRISH businesses confidence in the economic recovery has dived dramatically in the last three months, according to a survey, with most companies also saying a general election would not help matters.

The latest edition of the quarterly Business Sentiment Survey from KBC Bank and Chartered Accountants Ireland showed while business activity levels eased during the third quarter, with companies anticipating a small improvement in the final quarter, confidence in the economy’s health fell. In all, 35% of respondents were less optimistic than three months ago, with only 11% being more optimistic.

“These results are the poorest in six quarters and show the sharpest deterioration in sentiment towards the economy in the survey’s three-year history,” according to KBC economist Austin Hughes.