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Financial services remain confident despite downturn Back  
The current level of uncertainty in the Irish economy was reflected in a survey conducted by the Institute of Chartered Accountants in Ireland. Despite concerns about the economy overall, 63 per cent of respondents were fairly or very confident about prospects in their own business sectors. The sectors which expressed most confidence were financial services, accountancy practices, retail, food, pharmaceutical and healthcare manufacturing. Not surprisingly, those most worried tended to be in the IT, property and transport sectors.

However, 63 per cent of respondents believe the overall economic climate in Ireland will be worse in twelve months time. Only 13 per cent believe it will improve.

Commenting on the survey, Brian Walsh, chief executive of ICAI, said the results were a fair indication of the general uncertainty within the business community. ‘While nobody is panicking, the global slowdown, allied with the aftermath of the September 11 attacks, has significantly depressed business confidence, with some sectors particularly badly affected. However, as the survey indicates there are quite a number of strong sectors which can look ahead to 2002 with some confidence.’

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