Business leaders 'cautiously optimistic' as underlying growth emerges

There is a positive picture to be found within the Mood of the Boardroom, says EMA's Head of Advocacy and Strategy. 

Alan McDonald told Mike Hosking that the underlying numbers are becoming more visible, which is beginning to give the business sector "a bit more confidence in a longer-term recovery". 

Manufacturing has been a quiet achiever while the residential construction sector is picking up, McDonald said. 

"The numbers for tourism have finally gone back to pre-Covid levels, so that's also a good story." 

However, hiring intentions within the boardroom were "still fairly flat", which was indicative of the caution surrounding the country's economic recovery, he said. 

"A lot of places have cut staff, or haven't cut, but haven't replaced. So they're running fairly lean anyway." 

Asked for a word to summarise the mood, McDonald said: "Cautiously optimistic on the back of some pretty sound numbers." 

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