Business confidence continued to rise in May with consumer sentiment also mounting on the back of a further loosening of Covid restrictions. The latest Bank of Ireland business pulse index rose by 3.8 points to 92.7, some 51.3 points higher than the same period a year ago. The consumer index also increased for a fourth month running to 76.7 last month, with buying sentiment strengthening, too. Growth forecastThe rise in sentiment has led the lender to revise its Irish GDP forecast for 2021 to 5.8 per cent from an earlier guidance of 5 per cent. “The May pulse results show that momentum in the Irish economy is building.

Source: The Irish Times May 31, 2021 04:30 UTC