Almost two thirds of business leaders are feeling optimistic about the Irish economy, more than twice the level recorded at the start of the year.
According to a new survey of members by the Institute of Directors, nearly three quarters of those questioned feel the financial performance of their organisation will improve this quarter, up from 44% in the first three months of the year.
Two thirds of the 226 directors and business leaders who responded think that their firm’s financial fortunes will also be better for the year as a whole.
“We are seeing a resurgence of optimism among business leaders,” said Maura Quinn, IoD chief executive.
“Towards the end of 2020, it was evident that positive sentiment was returning. The lifting of many public health restrictions in recent months along with the roll-out of the national vaccination programme are playing their part.”
“Crucially, these positive developments are being mirrored in our key overseas markets and our research reveals optimism with regard to potential market growth opportunities in the EU and US markets, in particular.”
The survey found 34% of respondents expect there to be opportunities for growth in Europe and 23% believe they will be able to capitalise on opportunities in the US.
Just 20% think there will be opportunities in the third quarter in the UK.
The Government also gets a boost in the findings, with 49% of respondents indicating that they think its performance is having a positive impact on consumer confidence.
38% also expressed a view that the Government’s performance on decision-making has been positive, up from 17% in the first quarter of the year.