Confidence hit by lack of credit

The ongoing lack of access to credit dragged business confidence down, leading to an sharp decline in the number of people who are optimistic about Ireland’s recovery.

The Global Economic Conditions Survey from the Association of Chart-ered Certified Accountants (Acca) and the Institute of Management Accountants found that 35% of finance professionals surveyed in Irish businesses reported a loss in confidence.

Acca Ireland head Liz Hughes said finance was one of the driving forces of the Irish economy and if they are not confident, it is a strong indicator that business is in decline.