Market Pulse Report Q1 2024Market Pulse is an analysis of the key trends in the SME sector, prepared by Fitzgerald Power on a quarterly basis. Check it out here.Market Pulse Q1 2024: The key trends in the Irish SME sectorEach quarter Fitzgerald Power’s SME team prepares a pulse report of the key trends in the Irish SME sector. We are delighted to partner with The Currency to share this research with their readership.The biggest trends in the first quarter of 2024 were a return to normal rates of inflation, continued labour market capacity constraints and an increase in the rate of corporate insolvencies.Our key-findings are set out below.The big pictureThe economy is in growth and according to the Central Bank of Ireland this trend will continue into the medium term. GDP growth of 2.2% in 2024, 1.9% in 2025 and 2% in 2026 is expected by the economic boffins in North Wall Quay.Q1 2024 statistics from the CSO support this position. The total value of seasonally adjusted sales increased by 1.6% when compared to the same period in 2023. Two sectors that saw the largest gains were Hardware, Paints & Glass at 6.5% and Bars at 8.4%, while Department Stores were down 7.4% year-on-year.SectorAnnual change to March 2024Motor Trades1.2%Department Stores-7.4%Food, Beverages & Tobacco-3.6%Clothing, Footwear & Textiles-0.8%Hardware, Paints & Glass6.5%Bars8.4%Source: CSORead more of Q1 2024 in the full report which can be downloaded here.Fitzgerald Power is a leading financial advisor to the Irish SME sector.We provide accountancy, corporate finance and taxation advice to businesses across the country. We’d love to hear from you so please get in touch if you think we can help.Further Articles Market Pulse Report Q4 2023Market Pulse is an analysis of the key trends in the SME sector, prepared by Fitzgerald Power on a quarterly basis. Check it out here. Read Blog Pharmacy Pulse Report Q4 2023Analysis of the key trends in the Irish Community Pharmacy sector, prepared by Fitzgerald Power on a quarterly basis. Read Blog
