DAVY VIEW

This morning’s Bank of Ireland Pulse survey shows a marked rise in business confidence in July, coinciding with the ease in COVID-19 restrictions. Surprisingly, the consumer confidence survey fell marginally, but there was a marked pick-up in house price expectations. A minority of respondents (37%) now expect house prices to fall over the next 12 months, down from 52% last month; the house price balance is now -12%, up from -34% in June.