'Tailwind' could lift credit gloom
"It is not a surprise to see that Irish SMEs adopted a defensive posture with regard to leverage in the opening months of 2019. Nonetheless, with high frequency data points showing solid growth in Q1 2019, it seems that the economy still performed impressively even while operating in deleveraging mode.
"Were political developments at Westminster and Washington to provide a tailwind to global growth over the coming quarters, this could lead to greater appetite for credit by Irish resident firms, with a resultant lift to economic momentum."
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Philip O'Sullivan, Investec.