Belfast Telegraph

Sunday 31 August 2014

Confidence is growing ... long may it continue

David Elliott, Business Editor
David Elliott, Business Editor

Confidence, it seems, is back in vogue. Having been as unfashionable as shell suits on Paris cat walk for a number of years, it's showing its head again in many different areas.

Whether it's consumer or business, confidence is certainly building in Northern Ireland as new car registrations and the Chamber of Commerce economic survey show.

Arguments will now centre on whether we're not confident enough about our economy but there's no doubt that a sprinkling of belief is something which has been badly missed.

Nervousness about our future prospects has deterred those who have cash to spend from investing while potential borrowers have been scared of growing and unrepayable debt.

That outlook seems to have shifted to one of a more bullish nature, one which is less risk averse, something which should be good news for the economy.

Let's hope that things improve but hopefully we've learnt a lessen from the days of the credit crunch when caution became unfashionable.

In business terms a healthy balance of both is needed for a sustainable recovery.

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