CEOs confident of strong GDP growth

The amount of Irish-based business leaders who feel that the economy will return to strong consistent growth in the next 12 months has more than trebled since this time last year.

CEOs confident of strong GDP growth

Nearly 70% of company chiefs — responding to a survey by Enterprise Ireland and Deloitte — said they expect strong GDP growth to be evident in 2014. Only 21% of respondents to the same survey, this time last year, had such hopes for 2013.

The survey of 420 people — coinciding with Enterprise Ireland’s CEO Forum in Dublin Castle yesterday — also found that 97% feel that Irish businesses can collectively outperform nations of a similar scale in the global economy.

According to Brendan Jennings, managing partner at Deloitte: “The strengthening of business sentiment amongst Ireland’s key business leaders identified in this survey is encouraging to the say the least.

“Ireland is an outward focused economy, so with increasing business confidence emanating from the US and UK economies in particular, it’s not surprising to see similar sentiment amongst Ireland’s key business leaders, many of whom have businesses that expand when these economies grow.”

Attending yesterday’s conference, Taoiseach Enda Kenny said it was very positive to see increasing confidence amongst Irish business leaders.

“As Ireland exits the international bailout this December, the Government will work hard to build on the renewed confidence in Ireland. The challenge for everyone will be to turn increased confidence into more jobs as we seek to get Ireland working again,” he said.

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