Irish business sentiment kept weak by inflation and supply chain pressures

The October survey pointed to a slight pickup in hiring intentions since the summer, with the employment net balance registering a positive 26 per cent in October, up from 24 per cent in June, in advance of France on 15 per cent, the UK on 11 per cent and the euro zone average of 2 per cent.

Shortages of raw materials and electronic components, as well as skilled staff, remain concerns, while financial service firms highlighted rising interest rates and regulatory burdens. “Businesses need to be agile in the face of this uncertainty and be able to move at speed to respond and be competitive. Such agility, coupled with a flexible and highly productive workforce, will be critical for Ireland’s success going forward.”

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