2004 best year of new millennium for Irish businesses
2004 was the best year of the new millennium for Irish businesses, according to a review published today by the Bank of Ireland.
The bank said the construction sector remained the key driver of Ireland's economic growth, while the housing boom was also benefiting retail outlets specialising in DIY and home furnishings.
However, speaking at the publication of the review, Bank of Ireland economist Dan McLaughlin said the pub trade did suffer slightly during the year.
"The smoking ban, obviously, may have had some impact," he said, "but there's a longer term declining trend at work.
"People are probably drinking more wine, spending more time at home, maybe eating out more.
"It's a shift in lifestyle, but no doubt as well the significant price rises that we've seen in bars in the last two or three years have finally had a significant impact on spending."
