BDO Optimism Index Q3 2016
The latest BDO Optimism Index, in conjunction with B&A, is out now.
A third of companies in Ireland expect Brexit to have a negative impact on their business and projected activity levels for the third quarter dropped for the first time in five years, according to the latest BDO Optimism Index.
Some 34% of companies of the 350 businesses said Brexit will have a ‘somewhat negative’ or ‘very negative’ impact on their trading, with 50 percent saying it won’t impact them and 9 percent expecting a boost from the UK’s decision to leave the European Union. Exporters are most fearful about the prospects of Brexit, with 36 percent of the sector saying it would have a “somewhat or very negative’’ impact on their prospects.
The overall optimism figure is in line with the previous quarter falling slightly to 66.4 points (from 66.8 points) for the quarter.
Commenting on the Optimism Index’s findings, Michael Costello, Managing Partner of BDO, said:
“Clearly Brexit has created uncertainty for businesses not only in Ireland and the U.K., but across Europe and indeed globally. This uncertainty is prompting companies to downgrade their forecasts for activity going forward and given the fact that the UK is our largest trading partner, that is not surprising”
View the report here.
Read more on the BDO Website here.