Business activity weaker this autumn - survey

Business activity and employment weakened in the third quarter of the year, according to the KBC Bank autumn business sentiment survey for 2011.

The survey shows the "prolonged and uneven stabilisation process" is continuing, but that spending and hiring is still being stymied by the uncertain economic backdrop.

One in four firms said they had significant problems accessing credit, with one in six saying the issue was becoming an even bigger problem in recent months.

Most businesses also said they would urge the Government not to exceed €3.6bn in cuts and savings in December's Budget as a larger adjustment would hurt the economy.

However, businesses also reported increased confidence in Irish economic prospects.