Only 40% of firms are driving Irish recovery

More than 80% of Irish-based firms are in stable or growth mode, but the economic recovery is being driven by only 40% of larger companies in the manufacturing and services sectors, a report has claimed.

“While businesses continue to experience recovery across the island, it is at a slower pace than in recent quarters, where in the first quarter in 2015, 88% of businesses were stable or growing,” cross-border business development agency, InterTrade Ireland said in its latest quarterly business monitor published this morning.

The survey showed the level of firms achieving stability or still growing had dipped marginally in the second quarter of the year to 83%. With the latest monitor, InterTrade has focused on what differentiates rapidly growing firms from the rest.