Economic Trends - Economic Trends Q1

Economic Trends - Economic Trends Q1 - 2022 https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/ en-us 22 Apr 2022 03:11:01 IST 22 Apr 2022 03:11:01 IST https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/rss.xml Newsweaver conor@corkchamber.ie (Cork Chamber of Commerce) support@newsweaver.ie (Newsweaver) 60 true Reliance https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/1vh9o8ylxip?lang=en?rss=true [ https://www.youtube.com/embed/yfYx2Liu1sM ] 05 Apr 2022 12:00:00 IST 3f79417b60de93da7ae68936a1796646 Three Column Articles - Hero Image [ https://www.youtube.com/embed/yfYx2Liu1sM ] Simply Blue Group https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/15ol5x55jpm?lang=en?rss=true [ https://www.youtube.com/embed/Z3-VNDeh4_s ] 05 Apr 2022 12:00:00 IST e1de162e78f13ff4e7c199dfedcb076c Three Column Articles - Hero Image [ https://www.youtube.com/embed/Z3-VNDeh4_s ] Altada: Finalist "Emerging" Cork Company of the Year 2021 View now Starcircle https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/12mvwlxs7o7?lang=en?rss=true [ https://www.youtube.com/embed/qdnqvHr_HS8 ] 05 Apr 2022 12:00:00 IST 980923f4226cecfb7fb80e1292ea3086 Three Column Articles - Hero Image [ https://www.youtube.com/embed/qdnqvHr_HS8 ] Survey Results https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/1m88f1dpu5y?lang=en?rss=true In the first Economic Trends survey of 2022, Cork Chamber asked members about their experience in the most recent business quarter, Q1 2022 (January, February, March) as well as the business outlook for the second quarter of 2022. This Economic Trends captures a snapshot of business experiences and the overall operating landscape, in a period which saw the Russian invasion of Ukraine and the outbreak of war. In addition, Q1 2022 has seen a resurgence and second wave of the Omicron variant of Covid 19 and a subsequent impact on business and society. This survey also gathered information on the current experiences of Cork Chamber member organisations dealing with the rise in energy costs. 14 Apr 2022 12:00:00 IST 05419b385e3fec1121e4b27bc98aad51 FEATURE_ARTICLE-clone-32694127-20220414-090757 In the first Economic Trends survey of 2022, Cork Chamber asked members about their experience in the most recent business quarter, Q1 2022 (January, February, March) as well as the business outlook for the second quarter of 2022. This Economic Trends captures a snapshot of business experiences and the overall operating landscape, in a period which saw the Russian invasion of Ukraine and the outbreak of war. In addition, Q1 2022 has seen a resurgence and second wave of the Omicron variant of Covid 19 and a subsequent impact on business and society. This survey also gathered information on the current experiences of Cork Chamber member organisations dealing with the rise in energy costs. Energy Prices Affecting Business Growth & Profitability https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/kjmfsy22nvi?lang=en?rss=true It is of interest to note that 66% of companies surveyed have actively managed energy in a bid to make savings in Q1 2022. 82% of respondents agree that government should implement measures to help protect businesses from extreme cost pressures in the short term. 19 Apr 2022 12:00:00 IST 69d9a6cc096ab167fc2bca210bafa5cb ARTICLE_1_COLUMN-clone-32694133-20220405-141712   It is of interest to note that 66% of companies surveyed have actively managed energy in a bid to make savings in Q1 2022.   82% of respondents agree that government should implement measures to help protect businesses from extreme cost pressures in the short term. http://corkchamberofcommerce.newsweaver.ie/v2files/shard1/8881/44/04d91380c21a4706ebedad.jpg View all results https://www.corkchamber.ie/quarterly-economic-trends/ Business Confidence https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/12nvi9cemcm?lang=en?rss=true From an overall financial perspective, 86% of respondents report business confidence, this is a 6% decrease on the previous quarter (Q4 2021). 19 Apr 2022 12:00:00 IST da542fb948020c6ebc7cb2789bb03da4 Feature Article - Hero Image From an overall financial perspective, 86% of respondents report business confidence, this is a 6% decrease on the previous quarter (Q4 2021). http://corkchamberofcommerce.newsweaver.ie/v2files/shard1/8881/cb/b8def72d28de58d6839595.jpg Browse Full Results Online https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/dcxoav82dvr?lang=en?rss=true [ https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/tsgfv99mu6m/external ] 19 Apr 2022 12:00:00 IST b9d2f06f084941f6247f700ebd7ca300 Standard Articles - Image Right <a href="https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/tsgfv99mu6m/external" target="_blank" rel="noreferrer noopener"><img align="center" src="http://corkchamberofcommerce.newsweaver.ie/v2files/shard1/8881/8d/2d73ab5cef63ce1776d238.jpg" width="347" height="246" hspace="0" vspace="0" alt="" /></a> Expected Changes to Employee Numbers https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/qodtacq33uu?lang=en?rss=true The number of responding businesses expecting to increase employee numbers in the coming months has decreased from 62% in Q4 2021, to 50% in this recent quarter. The high of 62% was reflective of expectations around businesses reopening as restrictions were easing. 19 Apr 2022 12:00:00 IST 0f05ff0784ccaac66cb64bbf7aca0c8e Two Column Articles - Hero Image Over next 12 Month Period The number of responding businesses expecting to increase employee numbers in the coming months has decreased from 62% in Q4 2021, to 50% in this recent quarter. The high of 62% was reflective of expectations around businesses reopening as restrictions were easing. http://corkchamberofcommerce.newsweaver.ie/v2files/shard1/8881/7a/4510e3d4dd88354d8579a3.jpg Number of Businesses with Vacancies https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/1rtjxgwwvat?lang=en?rss=true 43% of respondent businesses with current vacancies are reporting difficulty filling the open roles (i.e., remaining unfilled greater than 3 months). These vacancies are present across multiple sectors and vary widely, companies are specifically seeking experienced technical talent, manufacturing skills, Operators, Technicians and Engineers and Life Science Engineers. 19 Apr 2022 12:00:00 IST 26ed18cb1467497dcb657326ef3984be Two Column Articles - Hero Image Currently Advertised 43% of respondent businesses with current vacancies are reporting difficulty filling the open roles (i.e., remaining unfilled greater than 3 months). These vacancies are present across multiple sectors and vary widely, companies are specifically seeking experienced technical talent, manufacturing skills, Operators, Technicians and Engineers and Life Science Engineers. http://corkchamberofcommerce.newsweaver.ie/v2files/shard1/8881/04/ed07a6bde4727a7a854386.jpg View more results https://www.corkchamber.ie/quarterly-economic-trends/ Top 3 https://corkchamberofcommerce.newsweaver.ie/92gv4l1ukx/53lgdh5nmum?lang=en?rss=true Cost Competitiveness Skills Availability Geopolitical - war in Ukraine These top three threats reported in Q1 2022 are closely followed by Cost of Energy and Raw Materials in fourth place, Changing Consumer Spending/ Reduced Orders in fifth place and availability of Housing/ Rental Accommodation for Employees in sixth place. The threat of Covid-19 to business growth has dissipated and now ranks seventh as the top threat to business growth. 19 Apr 2022 12:00:00 IST 3abb18370357972e99e0e3d0efbc0774 Feature Article Image Right <ol> <li style="line-height: 2;">Cost Competitiveness</li> <li style="line-height: 2;">Skills Availability</li> <li style="line-height: 2;">Geopolitical - war in Ukraine</li> </ol> These top three threats reported in Q1 2022 are closely followed by Cost of Energy and Raw Materials in fourth place, Changing Consumer Spending/ Reduced Orders in fifth place and availability of Housing/ Rental Accommodation for Employees in sixth place. The threat of Covid-19 to business growth has dissipated and now ranks seventh as the top threat to business growth. http://corkchamberofcommerce.newsweaver.ie/v2files/shard1/8881/96/9e27b7c55a60a513914bdd.jpg