Confidence in the Irish economy increased by 15 points in the last quarter, mainly due to the release of the Kovid-19 vaccine, according to a survey of economists.
The ACCA’s latest survey of the global economic situation, published with the Institute of Management Accountants (IMA), found that easing public health regulations also played an important role.
Vaccine launch slowed in the second year but had a positive impact on the economic outlook.
He also underscored the strong demand for exports, which should help economic growth in the second half of the year.
The survey, conducted by a panel of accountants, found that Ireland’s economic confidence is at the highest rates in Western Europe, with the Irish index 4.3 points higher than the Western European average.
However, despite the optimism, the report warns that the increase in delta variant cases in Ireland and Western Europe raises concerns about the remaining 2021, but the first evidence of a vaccine effect is currently pleasing to many.
ACCA Ireland President Caitriona Allis said there was a strong link between the speed of vaccine deployment and Ireland’s economic outlook.
In the first quarter, we saw a dramatic comeback from 2020, when the immunization program was launched and accelerated, which led to an increase in optimism in the second quarter.
“The challenges we face in reopening are significant, which could adversely affect the economic outlook, especially at the end of the wage support scheme and the wage support system.
“However, with strong consumer sentiment, growing sales and the resistance we have seen across epidemics, we are well on our way to dealing with this storm.”