Company bosses pessimistic over outlook for Irish economy - PwC

A survey of company bosses has detailed a pessimistic outlook for growth in the State’s economy.

Just 16 per cent of chief executives surveyed in PwC’s 2020 Irish chief executive survey took a favourable view about the future outlook for the Republic’s economy, down from 57 per cent last year.

Nevertheless, more than two-thirds still anticipate future revenue growth in their respective organisations, although that percentage is also down from 84 per cent in 2019.

"Ireland is bucking some global economic trends - our economy is performing well, unemployment is at almost record lows and foreign direct investment remains strong. But it is not surprising, given all that is going on globally that business confidence in Ireland has fallen so dramatically," said Feargal O'Rourke, PwC Ireland's managing partner.

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While economic growth is the tope concern amongst the chief executives surveyed, the bosses are significantly more concerned about climate change risks and environmental damage than they were in last year’s survey.

The 2020 PwC Irish chief executive survey was carried out amongst 125 bosses representing all major sectors of the economy.