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 […]
State faces €20bn fine if it fails to reduce emissions, Fiscal Council says
The State could face a cost of €20 billion if it fails to achieve reductions in carbon emissions in 2030, according to an assessment by the watchdog which advises on the public finances. The figure is far higher than a previous estimate of about €8 billion from the Climate Change Advisory Council. In its latest […]
Central Bank warns of risks of global uncertainty, trade tensions
The Central Bank has warned that Ireland’s exposure to global uncertainty and rising political and international trade tensions, raise the prospect of lower trade and economic growth. The regulator has also cautioned that with the economy performing at or above capacity, expansionary fiscal policy risks aggravating domestic pressures. The warnings are contained in its Financial […]
Optimism among SMEs at highest level in over a year
Optimism within the Irish SME sector is at its highest level for over a year, according to the latest SME Confidence Index from non-bank lender Linked Finance. Linked Finance noted that larger SMEs, which employ between 10 and 250 workers, are the most upbeat, reporting a positivity rate of more than 72% on the index […]
Dublin Airport set to breach passenger cap limit this year
Passenger numbers at Dublin Airport in November were 3% higher than the same month last year, with numbers at Cork Airport up 5%. Airport operator daa said that last month was the busiest ever November for both Cork and Dublin Airports as the two airports saw almost 2.5 million passengers pass through their terminals in […]
Activity in services sector rises as inflationary pressures ease
Activity in the services sector increased last month as inflationary pressures eased, new data shows. The latest AIB Purchasing Managers’ Index shows that activity expanded at its fastest pace since April 2023. The index rose sharply to 58.3 in November, from 53.8 in October. Readings above 50 indicate overall growth in activity. The data shows […]
ECB rate cut of 25 bps possible, not more, ECB’s Holzmann tells paper
It is “conceivable” that the European Central Bank will cut interest rates by 25 basis points at its next rate-setting meeting this month but not more, ECB policymaker Robert Holzmann said in a newspaper interview published today. Investors expect the ECB to cut interest rates at every one of its upcoming meetings at least until […]
Dublin ranked 43rd in global quality of living index
Dublin has been ranked in 43rd place in an annual assessment of the quality of living standards of cities globally. This was down one place on last year’s 42nd position. The Mercer 2024 Quality of Living city ranking also placed the capital in 26th position out of 38 western European cities. This was also a […]
Number of new mortgages approved in October up 8.6%
The number of new mortgages approved in October was up 8.6% on the previous month. In total 4,829 new mortgages got the green light, up 13% compared to the same month last year. The latest Banking and Payments Federation Ireland (BPFI) data shows almost two thirds of the total were for first time buyers. “In […]
Virtual and hybrid AGMs now possible due to new order
It will be possible to hold virtual or hybrid AGMs and other general meetings of companies and societies as a result of the signing of an order commencing new legislation from today. The Companies (Corporate Governance, Enforcement and Regulatory Provisions) Act 2024 will also give more powers to the Corporate Enforcement Authority (CEA). It will […]
Manufacturing activity contracts slightly in November – PMI
The country’s manufacturing sector saw a slight downturn in November, with a survey today showing a contraction in activity as new orders weakened. The latest AIB Ireland Manufacturing PMI fell to 49.9 from 51.5 in October. A PMI reading above 50 indicates growth, while below that level signals a contraction. This marks the third time […]
ECB’s Lane says bank should focus on future risks for policy decisions, FT reports
The European Central Bank should make future monetary policy decisions based on upcoming risk rather than the latest economic data, ECB chief economist Philip Lane told the Financial Times in an interview published today. “Once the disinflation process (is) completed, then I think monetary policy needs to be essentially forward-looking, and to be scanning the […]
Euro zone inflation edges up, ‘underlying’ price growth steady
Euro zone inflation accelerated in November and its most closely watched components remained high, data showed today, adding to the case for a more cautious European Central Bank interest rate cut next month. Consumer price inflation in the 20 countries sharing the euro stood at 2.3% in November, according to the data from Eurostat. That […]