THERE HAS been a significant improvement in business confidence following a sharp decline at the end of last year, according to business lobby group Ibec.

Exporters in particular are confident about the outlook and 30 per cent plan to hire staff in the next three months Ibec’s Business Sentiment Report found.

However, the domestic economy remains in paralysis and needs help to return to normal levels of trading, said Ibec.

Based on the responses of about 400 firms, the findings are presented as balances of the difference between positive and negative responses. A positive balance indicates more firms responded positively than negatively.

Confidence in firms’ own business improved from +4 to +16, while the three month outlook jumped from -3 to +18. But the survey found big differences between firms in export sectors and the general economy:

“Pharma, medical devices, industrial products, and ICT services are particularly positive. However, retailers and wholesalers recorded a negative reading and 69 per cent of retailers expecting a decrease in sales in the next three months,” said Ibec.