Economic Trends - Economic Trends Q4

Economic Trends - Economic Trends Q4 - 2022 https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/ en-us 17 Jan 2023 04:10:53 GMT 17 Jan 2023 04:10:53 GMT 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/5itq7lwz6ta?lang=en?rss=true At the close of 2022, Cork Chamber asked members about their experience of the most recent business quarter, Q4 2022 (October, November, December). This Economic Trends Q4 2022 captures a snapshot of business experiences and of the overall operating landscape at the close of 2022 in a period which saw ongoing challenges with the rising cost of energy and inflation and a change of government leadership. The Q4 survey again asked about the ongoing business impact of rising energy costs and inflation to track business sentiment across quarter 3 and quarter 4 2022. 14 Apr 2022 12:00:00 IST 065092c178eedbeae22a84982d8ae08a FEATURE_ARTICLE-clone-32694127-20220414-090757 At the close of 2022, Cork Chamber asked members about their experience of the most recent business quarter, Q4 2022 (October, November, December). This Economic Trends Q4 2022 captures a snapshot of business experiences and of the overall operating landscape at the close of 2022 in a period which saw ongoing challenges with the rising cost of energy and inflation and a change of government leadership. The Q4 survey again asked about the ongoing business impact of rising energy costs and inflation to track business sentiment across quarter 3 and quarter 4 2022. Business Priorities for Budget 2023 https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/1pd5nxmnl69?lang=en?rss=true "Although the level of business concern has tempered, it remains high with almost three quarters of businesses still concerned about the rising energy costs. This, coupled with the fact that 50% of our business respondents report that government supports may not be sufficient in cushioning the rising cost of energy is a threat to the buoyancy of our economy," Ronan Murray, Cork Chamber President. 19 Apr 2022 12:00:00 IST da28d6901555d1aaf65d3814a21e6e05 ARTICLE_1_COLUMN-clone-32694133-20220405-141712 "Although the level of business concern has tempered, it remains high with almost three quarters of businesses still concerned about the rising energy costs. This, coupled with the fact that 50% of our business respondents report that government supports may not be sufficient in cushioning the rising cost of energy is a threat to the buoyancy of our economy,"   Ronan Murray, Cork Chamber President. http://corkchamberofcommerce.newsweaver.ie/v3files/shard1/8881/68/2716369173952c8785d6bb.jpg Energy supports for business https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/245kw5rxjkd?lang=en?rss=true It is a concern that 50% of businesses did not believe the supports had been sufficient. With high energy costs likely to continue to affect businesses into 2023, business supports will need to be revisited and reinforced by government, scheme expansion and alignment with EU support schemes is needed. 13 Jan 2023 12:00:00 GMT fc610ba013d7369b133bc0ba0db205a9 ARTICLE_1_COLUMN-clone-32694133-20220405-141712 It is a concern that 50% of businesses did not believe the supports had been sufficient. With high energy costs likely to continue to affect businesses into 2023, business supports will need to be revisited and reinforced by government, scheme expansion and alignment with EU support schemes is needed. http://corkchamberofcommerce.newsweaver.ie/v3files/shard1/8881/81/1468efcf7c3329596e5d6c.jpg Confidence in the Irish Economy https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/12tfehue5w6?lang=en?rss=true This is a marked increase in confidence in the Irish economy from 47% in Q3 to 66% at the close of Q4. Falling confidence had been a consistent trend in 2022, so this U-turn in sentiment is a very positive signal heading into 2023. 19 Apr 2022 12:00:00 IST 634dc5fab59db00f147b15ef564da4eb ARTICLE_1_COLUMN-clone-32694128-20220414-090440     This is a marked increase in confidence in the Irish economy from 47% in Q3 to 66% at the close of Q4. Falling confidence had been a consistent trend in 2022, so this U-turn in sentiment is a very positive signal heading into 2023. http://corkchamberofcommerce.newsweaver.ie/v3files/shard1/8881/a0/c0fb113e77d8b4b26fc27c.jpg Changes to Employee Numbers over Q4 2022 https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/7opb7objn6a?lang=en?rss=true Businesses continued to hire strongly in Q4 with 40% of companies increasing their headcount. In Q4 57% of companies reported advertisement of current open vacancies. This figure was 49% in the same period the previous year Q4 2021. 19 Apr 2022 12:00:00 IST f195824d5e1c24ffb6a4dfdf222c0d53 Two Column Articles - Hero Image Businesses continued to hire strongly in Q4 with 40% of companies increasing their headcount. In Q4 57% of companies reported advertisement of current open vacancies. This figure was 49% in the same period the previous year Q4 2021. http://corkchamberofcommerce.newsweaver.ie/v3files/shard1/8881/f3/844948ddc79a9e7402072e.jpg Top barriers to filling vacancies https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/1t52lbziu7p?lang=en?rss=true Barriers to filling vacancies such as a specialist skills shortage (65%) and housing (14%) need to be addressed. We are keen to continue to work closely with government to address the any bottlenecks that exist, which could constrain business expansion and investment,” Ronan Murray, President, Cork Chamber 19 Apr 2022 12:00:00 IST a2d7e5527294822d5ffc474709a5e691 Two Column Articles - Hero Image Barriers to filling vacancies such as a specialist skills shortage (65%) and housing (14%) need to be addressed. We are keen to continue to work closely with government to address the any bottlenecks that exist, which could constrain business expansion and investment,”   Ronan Murray, President, Cork Chamber http://corkchamberofcommerce.newsweaver.ie/v3files/shard1/8881/7d/6e8a4bb22ca1bd906ccaa2.jpg Browse Full Results Online https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/e4nucmktr0i?lang=en?rss=true View more stats and results from our latest Economic Trends, which capture a snapshot of business experiences and of the overall operating landscape at the close of 2022 in a period which saw ongoing challenges with the rising cost of energy and inflation and a change of government leadership. 19 Apr 2022 12:00:00 IST 06db2df767055ab1516407b99d1b508c FEATURE_ARTICLE-clone-32694126-20220711-152607 View more stats and results from our latest Economic Trends, which capture a snapshot of business experiences and of the overall operating landscape at the close of 2022 in a period which saw ongoing challenges with the rising cost of energy and inflation and a change of government leadership. http://corkchamberofcommerce.newsweaver.ie/v3files/shard1/8881/6e/be9a6738c8170b42ca9095.jpg Browse results here https://www.corkchamber.ie/quarterly-economic-trends/ Charity winner https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/4etkb44ivpf?lang=en?rss=true Cork Simon Community is this quarter's nominated charity to receive a €200 gift card. 17 Jan 2023 12:00:00 GMT c10ac427893e28b9383e4c1b7d193af5 FEATURE_ARTICLE-clone-32694126-20220711-152607 Cork Simon Community is this quarter's nominated charity to receive a €200 gift card.