The second economic trends survey of 2020 captures the sentiment of the Cork business community at a time of uncertainty during the rapidly evolving Covid-19 public health emergency. The survey which reports on member experiences during April, May and June questioned the business community on their experience of Q2 and their outlook for Q3 2020 on business confidence, the overall operating landscape, skills, threats and opportunities.
"While not in calm waters just yet, as a community we have pulled together and supported each other. And that has stood to us. We can see this in our latest economic trends results with a resurgence in those reporting business confidence to 73% from a low of 54% in the previous Q1 survey." Paula Cogan, President Cork Chamber.
92% of respondents reported that a more sectoral approach is now needed in the expansion of Covid-19 supports.
"Challenges pre-Covid have not gone away and Government must prioritise recovery that enables a strong thriving region through investment and not austerity. Climate Action featured strongly here also, a clear indicator to us that action on climate must be a top priority in the upcoming budget."
Paula Cogan, President, Cork Chamber
The latest survey shows an upturn in business confidence from a low of 54% in our Q1 survey, to 73% in the latest survey findings.
For context, business confidence had been at 93% at the close of 2019.