Are things on the up at last?

economic crystal ball

I was really annoyed to hear the coverage that the media gave the latest Ernest & Young downgrading of their Irish Economic Forecast in their Economic Eye Winter 2013 report.

The latest All Island EY Economic Eye Winter 2013 report has revised its Gross Domestic Product (GDP) forecast for 2013 downwards in the Republic of Ireland (ROI) from 0.8% to -0.2%“.

The comprehensive report covered more than just this but it was the “downgrading” that seemed to grab the headlines.

I gritted my teeth and shouted “shut the hell up” at the radio when I heard their economic experts being interviewed on air explaining their analysis.

Jesus …we near to hear positive news, we need to hear about those businesses that are seeing growth, we near to hear about the successes and we need to start believing that things are really improving.

ConfidenceIt’s only with confidence that things will start to improve and I firmly believe that this is happening – at least from what we are witnessing in the marketplace.

Giving airtime to such negativity is only going to hold us back as it has done for the last few years. Is market performance all down to facts or is it down to sentiment?

A nice bounce will happen if we start believing ..

While I have every respect for the experts in Ernest & Young I do believe that we have every reason for optimism based on what I am seeing and hearing:

  • We are seeing positivity and real intent by our clients
  • We are seeing competitiveness for staff
  • We are seeing sectors that were dormant such as retail and fashion back engaging for the first time in years
  • Hotels are busier than before – often it’s hard to get a booking
  • The summer for the tourist sector was well up on recent years
  • Restaurants are busier and the corporate market is back in force wining and dining: “Lately Tuesday’s are like Saturday’s” one restaurateur shared with me
  • Christmas party bookings are up on last year
  • The tradesman seem to be busy again
  • New businesses are opening
  • Hotels in NAMA control are being purchased by new operators
  • Solicitors and estate agents are telling me house transactions are happening – not by investors but by genuine buyers
  • Those houses will need furniture, carpets, lighting, painting and decorating
  • Banks are finally making progress with difficult situations and progress is being made
  • Supermarkets are opening new units and fighting a war using a “Support Irish products” agenda
  • The shops seem to be busier than they have been

Of course these are just my observations and the conversations that I am hearing every day.

I genuinely feel things are on the up and I sincerely hope that this is the case – to broaden this conversation can I ask ..

What are you experiencing?


Greg Canty is a partner of Fuzion

Fuzion are a Marketing, PR and Graphic Design agency in Ireland with offices in Cork and Dublin

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6 Responses to “Are things on the up at last?”

  1. chriswigg1 Says:

    … I’m with you on this one, Greg!.., despite our inadequate “government”, we should be able to set our stalls for success in 2014…

  2. Derek Rusk Says:

    Hi Greg, love the post.
    Things are definitely on the up..In Manor West the number of approaches for kiosks and promotional space has soared since late August. We also opened 3 new businesses in 3 weeks ie NDLS, a local florist and global retailer Claire’s.
    Tralee town centre also looks very vibrant with lots of new businesses opening up.
    A little positivity from the leaders in Dublin will go a long way to blowing away the cobwebs of the recession. Confidence in our economy and ourselves is vital for recovery to succeed.
    Keep on blogging!

  3. Gerry Sinnott Says:

    Stop shouting at the radio it cannot hear you. Get up and turn it off.
    Listen to Today FM Business programme Sunday morning no bad news
    Here is my three company’s that are really doing well.

    Murphy’s Ice Cream Wicklow Street if you have not tried this ice cream put it on your list.Super ice cream love the sea salt flavour,great staff,our blogs HB
    The Happy Pear natural food market greystone’s another great success story great food, great staff super location
    The Pen Store going since 1927 oppsite the Central bank great pens and stationery downstairs. What is your three.

  4. Start believing, stop whispering | Greg Canty Fuzion Blog Says:

    […] week I shared in my blog post “Are things on the up at last?” our own experiences in Fuzion both in Cork and Dublin. We are witnessing a definite sea […]

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