DAVY VIEW

Ireland’s PMI, business and consumer confidence surveys had deteriorated in the run-up to the October 31st Brexit deadline. Now that fears of a ‘no-deal’ Brexit have receded, these indicators are bouncing back. Following Monday’s ESRI/KBC Consumer confidence rising to a three-month high, this morning’s Services PMI increased sharply to 53.7 in November. In a similar vein, November’s exchequer returns still showed buoyant tax revenues.