Economic Trends - Economic Trends Q3

Economic Trends - Economic Trends Q3 - 2022 https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/ en-us 20 Oct 2022 04:30:05 IST 20 Oct 2022 04:30:05 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/fy3r5m2q8b0?lang=en?rss=true In the third Economic Trends survey of 2022, Cork Chamber asked members about their experience in the most recent business quarter, Q3 2022 (July, August, September), on the business outlook for the fourth quarter of 2022 and on the impact of energy and inflation on business. This Economic Trends Survey captures a snapshot of business experiences and of the overall operating landscape over the summer months in a period which saw the publication of the Government’s Budget 2023 and continued challenges with the rising cost of energy and inflation. 14 Apr 2022 12:00:00 IST e0765ac9016d8e9293d0846482d35022 FEATURE_ARTICLE-clone-32694127-20220414-090757 In the third Economic Trends survey of 2022, Cork Chamber asked members about their experience in the most recent business quarter, Q3 2022 (July, August, September), on the business outlook for the fourth quarter of 2022 and on the impact of energy and inflation on business. This Economic Trends Survey captures a snapshot of business experiences and of the overall operating landscape over the summer months in a period which saw the publication of the Government’s Budget 2023 and continued challenges with the rising cost of energy and inflation.   Business Priorities for Budget 2023 https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/oniukqc9wgg?lang=en?rss=true Responding members expressed their views on rising energy prices and measures they are taking to combat these challenges. Emerging from these findings, Economic Trends Q3 2022 also shares a picture of how member companies are adapting to the evolving situation and the implications for employment outlook, turnover and net profit and business growth. 19 Apr 2022 12:00:00 IST 11cbed69ca6768a5b9b5da31473a8d2b ARTICLE_1_COLUMN-clone-32694133-20220405-141712 Responding members expressed their views on rising energy prices and measures they are taking to combat these challenges.   Emerging from these findings, Economic Trends Q3 2022 also shares a picture of how member companies are adapting to the evolving situation and the implications for employment outlook, turnover and net profit and business growth. http://corkchamberofcommerce.newsweaver.ie/v3files/shard1/8881/fb/35dddb234cca83da338cd0.jpg View more stats on these issues https://www.corkchamber.ie/quarterly-economic-trends/ Confidence in the Irish Economy https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/lw1zhnocs3q?lang=en?rss=true Inflation and the energy crisis are impacting confidence in the Irish economy with a marked fall in confidence. For the first time in 2022 a majority of businesses are now not confident in the Irish economy (51%). 20 Oct 2022 12:00:00 IST 8738361be00c50bf8e63895e5b28a828 ARTICLE_1_COLUMN-clone-32694128-20220414-090440     Inflation and the energy crisis are impacting confidence in the Irish economy with a marked fall in confidence.    For the first time in 2022 a majority of businesses are now not confident in the Irish economy (51%).   http://corkchamberofcommerce.newsweaver.ie/v3files/shard1/8881/68/948638d91ba9f6ba6a82d1.jpg View results https://www.corkchamber.ie/quarterly-economic-trends/ Expected Changes to Employee Numbers https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/iu32vdft6ep?lang=en?rss=true A tight but a possibly more stable labour market is evident in Q3 2022 with 38% of respondents reporting company employee numbers increased in Q3 2022, 53% stayed the same and 9% reported a decrease. 19 Apr 2022 12:00:00 IST 92578305a869304f035aecaab601ec5a Two Column Articles - Hero Image Over next 12 months A tight but a possibly more stable labour market is evident in Q3 2022 with 38% of respondents reporting company employee numbers increased in Q3 2022, 53% stayed the same and 9% reported a decrease. http://corkchamberofcommerce.newsweaver.ie/v3files/shard1/8881/1e/c27d2fe42f56df5dc16026.jpg Top barriers to filling vacancies https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/kfxacch7vbq?lang=en?rss=true Specialist skills shortages remain the main factor affecting companies’ recruitment efforts, although down from 66% in Q2, 43% of companies were having difficulty hiring for unfilled roles in Q3. 19 Apr 2022 12:00:00 IST d7bcc745433c89bd78ae497f903ace5a Two Column Articles - Hero Image Currently Advertised Specialist skills shortages remain the main factor affecting companies’ recruitment efforts, although down from 66% in Q2, 43% of companies were having difficulty hiring for unfilled roles in Q3. http://corkchamberofcommerce.newsweaver.ie/v3files/shard1/8881/50/8bbbaabfbc3c58987886b6.jpg View more results https://www.corkchamber.ie/quarterly-economic-trends/ Business Confidence https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/9dn57okk80r?lang=en?rss=true Despite threats to business growth and a dip in confidence in the broader Irish Economy (to 51%), it is positive to note a high level of personal business confidence from an overall financial perspective among the Cork business community reported at 85%, although down from 90% in the last quarter Q2 2022 and a high of 91% in the same quarter last year. 19 Apr 2022 12:00:00 IST 80c9b989e02ddeb0ca2695074d8ef4e5 Feature Article - Hero Image Despite threats to business growth and a dip in confidence in the broader Irish Economy (to 51%), it is positive to note a high level of personal business confidence from an overall financial perspective among the Cork business community reported at 85%, although down from 90% in the last quarter Q2 2022 and a high of 91% in the same quarter last year. http://corkchamberofcommerce.newsweaver.ie/v3files/shard1/8881/20/9d51bd6af5119ede26dc0e.jpg Top 3 https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/15w52vn3b0p?lang=en?rss=true Changing Consumer Spending/ Reduced Orders Cost of Energy and Raw Materials Competitiveness ‘Other’ threats include Geopolitical - war in Ukraine (8%), Cyber Attacks (5%), Stability of Capital Markets (5%), Levels of Taxation (4%), Over-Regulation (4%) and Managing Cashflow (4%). 19 Apr 2022 12:00:00 IST b7f3c6dd07f5b4d632f4d279ad3acbf3 ARTICLE_1_COLUMN-clone-32694094-20220711-152615 <ol> <li style="line-height: 1.75;">Changing Consumer Spending/ Reduced Orders </li> <li style="line-height: 1.75;">Cost of Energy and Raw Materials</li> <li style="line-height: 1.75;">Competitiveness</li> </ol> ‘Other’ threats include Geopolitical - war in Ukraine (8%), Cyber Attacks (5%), Stability of Capital Markets (5%), Levels of Taxation (4%), Over-Regulation (4%) and Managing Cashflow (4%). http://corkchamberofcommerce.newsweaver.ie/v3files/shard1/8881/cc/943a6fb32fe30fb9f536d6.jpg Browse Full Results Online https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/17210ox7mne?lang=en?rss=true 19 Apr 2022 12:00:00 IST 9f771326375068d84b4423ca339d2990 FEATURE_ARTICLE-clone-32694126-20220711-152607 http://corkchamberofcommerce.newsweaver.ie/v3files/shard1/8881/73/dfc7a432f8a311b471d33c.png Browse results here https://www.corkchamber.ie/quarterly-economic-trends/ Chosen Charity https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/941kw3uabkm?lang=en?rss=true St Vincent de Paul is this quarter's nominated charity to receive a €200 gift card. 20 Oct 2022 12:00:00 IST 3d2b4f89ecd90539fd44258a14410fe3 FEATURE_ARTICLE-clone-32694126-20220711-152607 St Vincent de Paul is this quarter's nominated charity to receive a €200 gift card.