Businesses 'threading a tightrope' as rising costs sees productivity fall

Figures show a fall of 0.1% in domestic labour productivity in the first three months of 2023, with the foreign sector seeing an 8.2% decline

Mr Coneely also warned of the "concerning" fall in transportation and storage activity, with Chambers Ireland adding that pressures on the sector create longer-term risks for all businesses in Ireland

Staffing and energy pressures are continuing to raise business costs in Ireland and are having adverse effects on productivity which fell in the first quarter of this year, according to the Central Statistics Office.

Figures released on Tuesday show a fall of 0.1% in labour productivity in the domestic sector in the first three months of 2023, with the foreign sector seeing an 8.2% decline in the same period.