Economic Trends - Economic Trends Q2

Economic Trends - Economic Trends Q2 - 2022 https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/ en-us 12 Jul 2022 04:01:40 IST 12 Jul 2022 04:01:40 IST https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/rss.xml Newsweaver conor@corkchamber.ie (Cork Chamber of Commerce) support@newsweaver.ie (Newsweaver) 60 true Survey Results https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/1kew61q0jmi?lang=en?rss=true In the second Economic Trends survey of 2022, Cork Chamber asked members about their experience in the most recent business quarter, Q2 2022 (April, May, June), on the business outlook for the third quarter of 2022 and on their priorities for Budget 2023. This Economic Trends Survey captures a snapshot of business experiences and of the overall operating landscape, in a period which saw the continuation of the Russian war in Ukraine and challenges with the rising cost of energy and inflation. [ https://www.youtube.com/embed/Hd-2z9eppjk ] 14 Apr 2022 12:00:00 IST 0fc7a792f10b469b3fff7d179ee77ee7 FEATURE_ARTICLE-clone-32694127-20220414-090757 In the second Economic Trends survey of 2022, Cork Chamber asked members about their experience in the most recent business quarter, Q2 2022 (April, May, June), on the business outlook for the third quarter of 2022 and on their priorities for Budget 2023. This Economic Trends Survey captures a snapshot of business experiences and of the overall operating landscape, in a period which saw the continuation of the Russian war in Ukraine and challenges with the rising cost of energy and inflation.   [ https://www.youtube.com/embed/Hd-2z9eppjk ]   Business Priorities for Budget 2023 https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/fb8v7yu1tjm?lang=en?rss=true Budget 2023 looms large in the current volatile economic climate, and in terms of businesses’ priorities for the upcoming Budget, measures to address the cost of living were by far the most important, with nearly 70% of companies saying that it should be the government’s top priority for Budget 2023. Housing supply was the second key budget priority for businesses, with 47% of companies identifying supply side stimulus for housing as a top issue that needs to be tackled. 19 Apr 2022 12:00:00 IST b2cf831516352b1c4c7a264039d4e25f ARTICLE_1_COLUMN-clone-32694133-20220405-141712   Budget 2023 looms large in the current volatile economic climate, and in terms of businesses’ priorities for the upcoming Budget, measures to address the cost of living were by far the most important, with nearly 70% of companies saying that it should be the government’s top priority for Budget 2023.   Housing supply was the second key budget priority for businesses, with 47% of companies identifying supply side stimulus for housing as a top issue that needs to be tackled. http://corkchamberofcommerce.newsweaver.ie/v3files/shard1/8881/8a/c0cdf97043a7141c3786c6.jpg View all results https://www.corkchamber.ie/quarterly-economic-trends/ Business Confidence https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/1wzstvy2ybz?lang=en?rss=true Despite a fall to 58% of businesses expressing confidence in the Irish economy, it is positive to note that there is a continued high level of personal business confidence from an overall financial perspective among the Cork business community reported at 90%, the same as Q2 in 2021 and slightly up from 86% in Q1 2022. 19 Apr 2022 12:00:00 IST f9553f709a83bc1cfd8113ea87e9fd02 Feature Article - Hero Image Despite a fall to 58% of businesses expressing confidence in the Irish economy, it is positive to note that there is a continued high level of personal business confidence from an overall financial perspective among the Cork business community reported at 90%, the same as Q2 in 2021 and slightly up from 86% in Q1 2022. http://corkchamberofcommerce.newsweaver.ie/v3files/shard1/8881/95/e8a8ad132d220f65690fbd.jpg Expected Changes to Employee Numbers https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/1jji3upfi3c?lang=en?rss=true Despite a tight labour market, there was no sign of companies looking to hold off on recruiting to drive growth. 52% of respondents reporting they expect to hire over next 12 months, and 51% reporting that they have increased employee numbers over Q2 2022. 19 Apr 2022 12:00:00 IST d9496e773d8bb6a261724c796274ef43 Two Column Articles - Hero Image Despite a tight labour market, there was no sign of companies looking to hold off on recruiting to drive growth. 52% of respondents reporting they expect to hire over next 12 months, and 51% reporting that they have increased employee numbers over Q2 2022. http://corkchamberofcommerce.newsweaver.ie/v3files/shard1/8881/76/96c76e3f542ee1d525da60.jpg Number of Businesses with Vacancies https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/pmjiu5slbwl?lang=en?rss=true The number of businesses with advertised vacancies rose significantly in the quarter, up to 60% at the end of Q2 2022, from 47% at the end of the last quarter Q1 2022. 19 Apr 2022 12:00:00 IST c1b819ce5c42defc3228ff06a748adc8 Two Column Articles - Hero Image Currently Advertised The number of businesses with advertised vacancies rose significantly in the quarter, up to 60% at the end of Q2 2022, from 47% at the end of the last quarter Q1 2022. http://corkchamberofcommerce.newsweaver.ie/v3files/shard1/8881/ee/14fe319023b68bad31f976.jpg View more results https://www.corkchamber.ie/quarterly-economic-trends/ Top 3 https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/1cwysqh1kiq?lang=en?rss=true Skills Availability Cost of Energy and Raw Materials Changing Consumer Spending/ Reduced Orders Skills Availability has moved from the second threat in Q1 2022 to the number one threat to business growth in Q2. The Cost of Energy and Raw Materials has risen to second, with Competitiveness in fourth place and Availability of Housing/Rental Accommodation for Employees in fifth. 19 Apr 2022 12:00:00 IST fdfb9e36282ce4cf1585731b1b1f5a30 ARTICLE_1_COLUMN-clone-32694094-20220711-152615 <ol> <li style="line-height: 1.75;">Skills Availability</li> <li style="line-height: 1.75;">Cost of Energy and Raw Materials</li> <li style="line-height: 1.75;">Changing Consumer Spending/ Reduced Orders</li> </ol> Skills Availability has moved from the second threat in Q1 2022 to the number one threat to business growth in Q2. The Cost of Energy and Raw Materials has risen to second, with Competitiveness in fourth place and Availability of Housing/Rental Accommodation for Employees in fifth. http://corkchamberofcommerce.newsweaver.ie/v3files/shard1/8881/96/9e27b7c55a60a513914bdd.jpg Browse Full Results Online https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/g4vocx8jx3o?lang=en?rss=true 19 Apr 2022 12:00:00 IST ed6d756195b8f440c169dee0da94d93d FEATURE_ARTICLE-clone-32694126-20220711-152607 http://corkchamberofcommerce.newsweaver.ie/v3files/shard1/8881/1f/8896bd6f1ca052cc3e28e0.png Browse results here https://www.corkchamber.ie/quarterly-economic-trends/