Economic Outlook An Bord Bia Annual Food and Drinks Industry Day November 05, 2009 Austin Hughes, KBC Bank.

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Presentation transcript:

Economic Outlook An Bord Bia Annual Food and Drinks Industry Day November 05, 2009 Austin Hughes, KBC Bank

It’s Not the Great Depression… But It’s Close

Normal Service Resumed?

Wealth Destruction Will Restrain Recovery

Credit Still Crunched

US Economy Is Turning

A Bumpy Road Lies Ahead In Europe

Out of Balance

The Other Side Of The Coin

So What About Ireland?

Irish Jobs Market Has Changed Dramatically Right hand sideLeft hand side

A Paler Shade Of Grey

House Prices and Building Still Sliding

Budget Worries Persist

Irish Consumers Slightly Less Gloomy

Poorer Sentiment Has Hit Spending

Diagram 4: Turning to the broader Irish economy, how do you feel compared to three months ago? Increased Decreased

Diagram 1: Apart from normal seasonal patterns, how has your company's level of business changed in the past three months? Increased Decreased

Diagram 2: Apart from the normal seasonal patterns of the next three months, do you expect your company's level of business activity to? Increase Decrease

Commodities Still Say The World Is Changing

Where Next For Food Prices?

Summary The recession is over The hangover will persist Recovery will be bumpy Confidence and costs hold the key