DAVY VIEW

This morning’s Bank of Ireland Economic Pulse survey has seen a slight rebound in May, hopefully indicating that April was the trough in sentiment, with the economy now starting to gradually reopen. Still, a small majority of Irish firms expect job cuts over the next three months and almost 60% of households expect house price falls over the next year. Also, a new survey from Retail Excellence Ireland (REI) indicates revenues will still be down 25% by end-2020.