Business year in review part 1: January to July

John Daly takes us through the highlights form the first half of the business year.

JANUARY

The year began on an optimistic note with up to 60% of companies intending to give their staff pay raises in 2015, and just 1% planning to cut pay. The Irish Business and Employers’ Confederation said the average increase to basic pay predicted by the 462 surveyed companies was 2%. Wage increases, combined with changes in employee numbers, would increase companies’ total pay bills by 55% during the course of this year. Ibec chief executive Danny McCoy said: “Pay will increase for most in 2015, but not all. The economy is recovering strongly, but is still about 6% below its pre-crisis peak, and overall price levels are below where they were in summer 2008.”