Business confidence levels hit 5-year high

Confidence levels among Cork’s business community are at their highest for five years, with almost 60% of firms reporting turnover gains in the last quarter and comfortably more than 90% upbeat about their future prospects.

According to Cork Chamber’s third quarterly economic trends survey for 2014, 59% of companies reported an increase in turnover during the three months to the end of September, with 57% seeing a rise in net profit levels. Well over 50% also foresee further increases in both revenue and profit in the current quarter.

The latest monitor also shows positivity on the jobs front, with 40% reporting increases in employee numbers during the last quarter and the same percentage anticipating more hiring activity in the current quarter.