ECB cuts rates again, keeps door open to further cuts
The European Central Bank cut interest rates for the fourth time this year today, by quarter of a percentage point, and kept the door open to more as growth is hit by political instability at home and the threat of a fresh US trade war. The ECB has been easing policy as inflation worries largely […]
Annual inflation rate rises to 1% in November from 0.7% in October – CSO
New figures from the Central Statistics Office show that consumer prices rose by 1% in November compared to the same time last year. This marked an increase from the annual rate of inflation of 0.7% in the 12 months to October. The CSO said the biggest increases in the 12 months to November were seen […]
An Post vows to clear backlog of parcels after storm delays
An Post expects to receive around 350,000 parcels from the UK over the next 24 hours after Holyhead Port’s closure caused a backlog. It said it has the “facilities, technology and staff” across its hubs to deliver the parcels to homes and businesses around Ireland. Ferry sailings between Ireland and Wales were cancelled due to […]
House prices overvalued by 8-10%, ESRI warns in latest economic update
Irish property prices are overvalued by 8% to 10%, according to the Economic and Social Research Institute (ESRI) in its latest Quarterly Economic Commentary. The organisation analysed the value of houses and apartments taking into account prices, disposable incomes, interest rates, the supply of housing and the ratio of population in the key house purchasing […]
ECB set to cut interest rates for fourth time this year
Interest rates are expected to be cut by 0.25% by the European Central Bank today. If a reduction is announced it would immediately benefit tracker mortgage customers. The cut will reduce rates from 3.25% to 3% in the eurozone. It would be the bank’s fourth decrease so far this year. The move is in response […]
Demand for green skills in Ireland growing at twice the global average
Demand for green talent in Ireland grew by over 22.1% last year, well above the global average of 11.6%, according to research. The latest Labour Market Pulse published by IDA Ireland in collaboration with Microsoft and LinkedIn shows that demand for green skills in Ireland grew at twice the rate of the rest of the […]
25% fall in new electric car sales so far this year – CSO
New figures from the Central Statistics Office show a 25% decrease in the number of electric cars licensed for the first time during the first 11 months of this year compared to the same time in 2023 – continuing the trend of the last few months. The CSO said that 15% of all new cars […]
Bank of Ireland sees 30% rise in Christmas debit and credit card spending
Bank of Ireland said it was seeing an increase in spending on its customers’ debit and credit cards as the countdown to Christmas is in full swing. The bank’s latest debit and credit card spending shows there has been a 30% increase in spending in early December compared to the same time last year. It […]
Energy-related greenhouse gas emissions down 8.3% in 2023
Energy-related greenhouse gas emissions from transport, electricity, and heat fell 8.3% last year, according the latest report from the SEAI. They are now at their lowest level for 30 years. Energy emissions have also fallen in seven of the last ten years. The Sustainable Energy Authority of Ireland is calling for energy use in carbon-intensive […]
Manufacturing sector performing strongly despite rising costs
Confidence in the manufacturing sector remains steady, with 70% of firms expressing a positive outlook at both national and enterprise level. That’s according to this year’s Manufacturing in Ireland report by Ibec, entitled,”Facing Forward: Manufacturing Confidence Amidst Evolving Challenges”. Challenges persist, however, particularly rising operational costs related to wages, raw materials, and energy. Despite these […]
Wind farms generated 32% of electricity so far in 2024
Power generated from wind farms met 32% of the country’s electricity demand over the first 11 months of 2024, new figures from Wind Energy Ireland shows. Wind Energy Ireland’s latest monthly wind energy report shows that despite a drop in wind power generation compared to previous Novembers, strong winds during the second half of last […]
Three quarters of Irish employers planning to recruit in 2025 – report
Almost three quarters of Irish employers plan to recruit for permanent roles in 2025, according to new research, an 11% decline compared to 2024. The report, which was commissioned by recruitment firm Hays Ireland, found that 57% of Irish employees said that they are planning to find employment in a company that offers remote working […]
Construction jobs most in-demand roles this year
New research from hiring platform IrishJobs shows that workers in the construction industry were among the most in-demand professions in 2024. It comes as the sector continues to face a growing skills shortage. Site managers were the most sought-after profession by employers in 2024, with demand growing 39% year-on-year. According to the research, the five […]
Consumers to spend 14% more on average this Christmas
Consumers in Ireland expect to spend around 14% more on average this year on Christmas than they did in 2023. New research from the Competition and Consumer Protection Commission (CCPC) found on average, those surveyed expect to spend €1,177 over the festive period, up from €1,030 last year. One in four consumers said they anticipate […]
Gen AI could add €148bn to Ireland’s GDP by 2038 – report
Generative artificial intelligence (Gen AI) could add up to €148 billion to Ireland’s annual GDP by 2038, according to a new report from Accenture. The research found that the technology could also deliver major productivity uplifts across the private and public sectors. Industries such as life sciences and financial services could see productivity gains of […]
Almost 70% of Irish employees expecting end-of-year bonus
Almost 70% of Irish employees are expecting an end-of-year bonus, new research shows. The study carried out by Workhuman shows that around half of employees are also expecting gifts from colleagues and managers. 37% of workers surveyed said they believe that bonuses and gifts are tied directly to their performance at work. “The festive season […]
Number of landlords in Ireland up 5.7%, RTB figures show
Figures from the Residential Tenancies Board have shown an increase in the number of landlords across all categories. The figures show that between the end of September 2023 and the end of September this year, there was a 5.7% increase in landlord numbers. However, during the third quarter of the year, landlords issued almost 4,000 […]
Domestic economy grows 3.1% in first nine months of 2024 – CSO
The domestic economy expanded by 3.1% in the first nine months of this year, according to the latest figures from the Central Statistics Office. The figures show personal consumption grew by 2.4% and wages to employees rose by 3% in the first nine months of the year, compared to same period a year earlier. Today’s […]