Confidence in Irish economy at four year high - RaboDirect

Monday 07 July 2014 18.55
RaboDirect monitor shows 82% of investors surveyed are now confident in the outlook for the Irish economy
RaboDirect monitor shows 82% of investors surveyed are now confident in the outlook for the Irish economy

Economic sentiment among Irish investors is at a four-year high, according to an investment monitor carried out by RaboDirect.

The RaboDirect monitor showed that 82% of investors surveyed are now confident in the outlook for the Irish economy over the next three months.

Four years ago, just 10% of Irish investors expressed confidence in the Irish economy.

The research also shows that optimism in the global economy remains strong with 85% of Irish investors saying they are confident about the global economic outlook over the next three months. 

Confidence among investors about their personal financial situation is strong at 81%. 

The majority today list stocks as their favourite asset class, but Irish property also featured strongly. 60% of those surveyed said they would be confident about investing in the Irish property market in the next three months while 64% are confident about the global property market.

"The turnaround in investor sentiment is due largely to recovery in the global economy which is gaining traction and also the more positive forecasts for the domestic economy," commented Killian Nolan, Investment Manager, RaboDirect.

He said that another key factor contributing to investor optimism is the historically low interest rates set by the European Central Bank which look set to continue for the foreseeable future. 

"This is driving a search for better yields and making investment opportunities such as global stocks a more attractive proposition. In RaboDirect, we’re seeing this reflected in increased interest in Europe in particular," Mr Nolan added.