General Industry News

Consumer sentiment improves for second month after Covid-19 collapse

RTE – 24.06.2020

The KBC Bank consumer sentiment index climbed to 61.6 in June from 52.3 in May, but remains some distance from February's pre-pandemic reading of 85.2. In April the index had dropped to 42.6 in the sharpest month-on-month decline in the survey's 24-year history. The recovery in consumer sentiment mirrors gains in similar indicators for the UK, the US and the euro zone, and suggests the easing of lockdown measures is making consumers feel slightly less negative about the economic outlook, the index compilers said. "Only one in 20 consumers envisages better financial circumstances through the next 12 months whereas one in three expects a deterioration," said Austin Hughes, chief economist at KBC Bank Ireland. Austin Hughes said that fading fears should support stronger spending.

DAA loses €1M per day since St. Patrick’s Day

Business Post - 24.06.2020

DAA, the operator of Dublin and Cork airports, has lost around €1 million a day since St. Patrick's Day. Dalton Philips, its Chief Executive, said he expected that between 750 to 1,000 permanent jobs will be lost at Dublin and Cork airports as a result of Covid-19. He said that wages have had to be cut and the organisation is now being downsized. A number of schemes are being put in place for staff including a career break and a voluntary severance scheme, while all staff members have taken a 20 per cent pay cut, he added.