75% of businesses see recovery signs - Deloitte
Three quarters of Irish managers say that "Ireland's economic performance has shown signs of recovery" in a new survey of 500 businesses by accounting and consulting firm, Deloitte.
73% of managers say they feel more confident in the economy than they did this time last year, while 72% believe that the economy will continue to improve over the first half of 2004.
Among those who feel that the economy is improving, the main impact on their business is expected to be an increase in sales (mentioned by 62% of respondents), wider margins (46%) and increased employment (27%).
"Many companies selling into global markets are still feeling the impact of the global economic slowdown," says David Hearn, Consulting Partner with Deloitte. Only 62% expect to see an increase in sales during the first half of this year (compared to 79% this time last year).
Many companies are seeking to widen their margins, either by increasing prices or reducing costs, rather than through increased sales.
Only 15% of business managers expect to see the economy deteriorate over the first half of this year compared to 53% last year.
Amongst those who are more downbeat about the economy the main impact is expected to be reduced profitability and tighter margins (both mentioned by 38% of respondents), and reduced sales (mentioned by 36% of respondents).
