Commercial vacancy rate reaches highest level at 14.5%
The national commercial vacancy rate has reached its highest level on record at 14.5%, according to the latest GeoDirectory Commercial Buildings Report. The report, prepared by EY, shows the rate rose by 0.2 percentage points to 14.5% in the last quarter of 2024, which is the highest level recorded by GeoDirectory since it began tracking […]
Residential property prices up 8.1% in 12 months to January
Property prices rose by 8.1% in the 12 months to January this year, according to the latest figures from the Central Statistics Office. The cost of buying a home rose by 7.5% in Dublin and prices outside the capital were up by 8.6%. The median price of a dwelling was €359,999 nationally in January, today’s […]
US Fed holds interest rates steady as expected, as Trump tariff fears buffet markets
The Federal Reserve held interest rates steady today, as expected, but US central bank policymakers indicated they still anticipate reducing borrowing costs by half a percentage point by the end of this year in the context of slowing economic growth and, eventually, a downturn in inflation. Taking stock of the Trump administration’s rollout of tariffs, […]
Irish exports to US jump by 81% in January – CSO
There was an 81% surge in Irish exports to the US in January compared with the same month a year earlier, according to the Central Statistics Office. Total medical and pharmaceutical products sold abroad grew by 68%, today’s CSO figures show. There have been anecdotal indications that some companies could be stockpiling goods in the […]
NTMA to raise €1 billion in bond auction this week
The National Treasury Management Agency will seek to raise €1 billion in nine and 12-year debt in its first bond auction of the year on Thursday, the National Treasury Management Agency said. Ireland has a relatively limited borrowing requirement this year due to its large cash balances and forecast budget surplus. It plans to issue […]
Central Bank reduces forecast for economic growth due to rising uncertainty
The Central Bank has reduced its forecast for economic growth for this year due to rising uncertainty caused by the trade war between the US and EU. It says the domestic economy will grow by 2.7% which is 0.5% lower than its last projection. The bank also said fewer homes will be built over the […]
Euro zone banks must get into habit of tapping ECB for cash, ECB argues
Euro zone banks need to get into the habit of tapping the European Central Banks for cash, preparing for the continued decline in excess liquidity in the banking system, two top ECB officials said in a blog post today. Banks still sit on almost €3 trillion of excess liquidity, created by the ECB over the […]
Minister to travel to US for negotiations on tariffs
Minister for Agriculture Martin Heydon has said he will lead a “full trade mission to the United States” next month. It comes after US President Donald Trump increased tariffs on certain EU goods and threatened further action. Mr Trump threatened to impose a 200% tariff on wine, cognac and other alcohol imports from Europe, after […]
Safe-haven gold rises above $3,000 for the first time
Gold pierced through the psychological milestone of $3,000 an ounce today for the first time, building on an historic rally as trade tensions and US rate cut bets supercharge its appeal as a safe store of value. Spot gold was up 0.3% at $2,997.75 an ounce in mid-morning trade after hitting a record high of […]
Overall card spend in February up 10% on last year
The latest AIB Spend Trend report shows that Storm Éowyn led to an exceptionally quiet day for spending on Friday 24 January. AIB said the number of in-store transactions was down 38% compared with an average day. But after the storm, spending in hardware stores was up 8% in February, with significant increases seen in […]
AI expected to add €250 billion to Ireland’s economy by 2035 – report
A new report by Microsoft and Trinity College Dublin is projecting that the adoption of artificial intelligence (AI) could add €250 billion to Ireland’s economy, as measured by GDP, within 10 years. The AI Economy in Ireland 2025 report found that AI adoption is expected to increase Ireland’s Gross National Income (GNI) by at least […]
Annual inflation eases to 1.8% in February – CSO
New figures from the Central Statistics Office shows that inflation eased to an annual rate of 1.8% in February from a rate of 1.9% in January. Today’s figures show that prices in restaurants and hotels rose by 3.1% mainly due to higher prices for alcoholic drinks and food consumed in licensed premises, restaurants and cafes, […]
EU to impose counter tariffs on €26bn worth of US goods
The European Union will impose counter tariffs on €26 billion ($28bn) worth of US goods from next month, the European Commission said, ramping up a global trade war in response to blanket US tariffs on steel and aluminium. US President Donald Trump’s increased tariffs of 25% on all steel and aluminium imports have taken effect […]
Number of apartments granted planning permission down 39% last year – CSO
New figures from the CSO show that the number of planning permissions granted for apartments fell by almost 39% last year when compared to 2023. The data from the Central Statistics Office shows approvals for houses was down 2.7% last year. The total number of new homes approved annually fell by 21.4% in 2024 compared […]
Irish mortgage rates edge higher in January despite ECB cuts
New figures from the Central Bank show that the average interest rate on new Irish mortgages rose to 3.82% in January from 3.8% in December despite recent rate cuts from the European Central Bank. The Central Bank said that Ireland has the fifth highest average mortgage rates in the euro zone as the euro average […]
Taoiseach to pitch Trump on ‘two-way street’ of US-Irish investment
Taoiseach Micheál Martin will tell US President Donald Trump that there is a “two-way street” of investment between the US and Ireland, as a trade imbalance between the two countries looms over their upcoming bilateral meeting. Mr Trump will host the Taoiseach in the Oval Office of the White House tomorrow as part of the […]
Employment in construction down in February
Employment fell in the construction sector last month, ending a five-month period of jobs growth. The AIB Ireland Construction PMI report in February shows staffing levels were scaled back midway through the opening quarter of the year. It comes at a time when there are significant concerns over housing output, with CSO figures showing there […]
Almost three-quarters of workers aspire to retire by age 60 or sooner
Almost three-quarters of Ireland’s working population would like to retire by age 60 or sooner, according to new research. The latest Retirement Aspirations survey commissioned by pension company Royal London Ireland, shows that four in ten respondents would like to retire by the age of 50 or even sooner if they could. 7% of those […]