Nearly half (44 per cent) of Ireland’s businesses have shifted their focus from growth towards cost cutting, in response to rising inflation and interest rates, according to Intrum's 2023 European Payment Report (EPR).
Intrum’s 2022 European Consumer Payment Report paints a gloomy picture of consumers’ financial wellbeing and economic outlook. With rapidly increasing costs of living, consumers are cutting back on sustainable goods and services to manage their household finances.
The unprecedented scale of lending to small and medium-sized businesses to keep them afloat during the pandemic has left banks with a significant recovery challenge.
Surging inflation has created a wave of financial anxiety as households struggle to meet their commitments. Intrum’s annual European Consumer Payment Report (ECPR), a survey of 24,000 consumers across Europe, shows that more than eight in 10 Irish respondents are worried about rising grocery and energy prices.
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