Consumers expect weaker economy over next five years
Consumers in the Republic of Ireland and Northern Ireland expect a weaker economy, less favourable job prospects, and higher inflation over the next five years, a new survey suggests. The research – undertaken on behalf of credit unions on the island of Ireland – indicates that people are increasingly concerned by issues around tariffs, infrastructure […]
Home completions up 2% in first quarter of 2025 – CSO
There was a 2% increase in the number of completions in the first three months of this year in comparison to the same time last year, according to the latest figures on home building from the Central Statistics Office. The CSO said there was a 13.4% rise in apartment building with 1,781 units completed but […]
China considers exempting some goods from US tariffs
China is considering exempting some US imports from its 125% tariffs and is asking businesses to identify goods that could be eligible in the biggest sign yet that Beijing is worried about the economic fallout from its trade war with Washington. A Ministry of Commerce taskforce is collecting lists of items that could be exempted […]
Economic worries could weigh on airline results as European bookings drop
European airlines are set to report first-quarter results in the coming weeks, offering outlooks for the lucrative travel season amidst growing worries that economic uncertainty could slow demand and threaten earnings. That comes after the European Travel Commission noted in a study published today that Europeans are making fewer travel plans for this summer on […]
IMF says tariff pressures to push public debt past Covid levels
Economic pressures from steep new US tariffs will push global public debt above pandemic-era levels to nearly 100% of global GDP by the end of the decade as slower growth and trade strain government budgets, the International Monetary Fund said today. The IMF’s latest Fiscal Monitor projected that global public debt will grow 2.8 percentage […]
Govt missed 2024 target on new build social homes
The Government missed its target on new build social homes last year, with a shortfall of more than 1,400. Minister for Housing James Browne said he expects each local authority to do everything possible to meet their targets for 2025. Figures released today show that the target for delivering affordable homes was exceeded. The data […]
Wind farms provided 38% of Ireland’s electricity in first quarter
Wind farms provided 38% of the country’s electricity in first three months of 2025, according to a report by Wind Energy Ireland. Kerry wind farms led the way last month, producing more wind energy than any other county at 135 GWh. It was followed by Cork (125 GWh), then Galway (89 GWh), Mayo (87 GWh) […]
IMF says tariffs will hit economic growth, and increase risk of banking crisis
The International Monetary Fund has sharply cut its growth forecasts for this year because of the disruption caused by the tariffs on imports introduced by the US. It says the tariff regime introduced on 2 April by the Trump administration will cut global economic growth by half of one per cent – reducing it to […]
ECB survey sees inflation stabilising at 2%
Euro zone inflation could be a touch higher this year than earlier thought but will then stabilise at the European Central Bank’s 2% target, the bank’s Survey of Professional Forecasters showed today. The ECB cut interest rates for the seventh time in a year last Thursday, arguing that disinflation was well on track and risks […]
EU says it will enforce digital rules irrespective of CEO and location
The European Union is determined to enforce its full digital rule book no matter who is in charge of companies such as X, Meta, Apple and Tiktok or where they are based, Commission President Ursula von der Leyen told Politico. “That’s why we’ve opened cases against TikTok, X, Apple, Meta just to name a few. […]
Rise in electricity costs amid move from fossil fuels, report suggests
Ireland faces the threat of higher electricity prices as it transitions away from fossil fuels to renewables, a new report by the National Economic and Social Council has found. The reports also warns the reliability of the energy supplies “may worsen” as Ireland moves to cleaner power generation if issues are not addressed. The State […]
Gold maintains record rally as Trump’s attacks on Fed chief rattle traders
Gold prices soared to a record high, hitting the crucial $3,500 mark today, as concerns over US President Donald Trump’s criticism of Federal Reserve Chair Jerome Powell dampened risk sentiment and drove investors towards safe-haven bullion. Spot gold was up 2.2% at $3,493.41 an ounce this morning, after touching a record high of $3,500.05 per […]
European Central Bank expected to cut interest rates for seventh time in a year
The European Central Bank is widely expected to cut interest rates by one-quarter of a percentage point later today. The development follows the latest inflation figures, for countries that use the euro, showing prices rose by 2.2% in March, down 0.1% on the February rate. It means the rise in the cost of living is […]
Annual house price growth slows to 8% in February – CSO
Residential property prices are up 8% in the 12 months to February 2025, according to the latest figures from the Central Statistics Office. It means the cost buying a home is continuing to accelerate, but at a marginally slower rate than it was during the previous 12 month period when prices rose by 8.2% in […]
Annual euro zone inflation eases 2.2% in March
New figures from Eurostat, the statistical office of the European Union, show that euro area annual inflation fell to 2.2% in March from 2.3% in February. Euro zone inflation had stood at 2.4% in March of last year. Today’s figures show that the lowest annual rates of inflation were registered in France (0.9%), Denmark (1.4%), […]
Gas use increases in March as weather shifts and wind energy output falls
Overall gas demand in March rose by 13% compared to February, and by 4% compared to the same month last year, new figures from Gas Networks Ireland show today. Gas Network Ireland noted that gas demand in the transport sector increased by 90% year on year, reflecting a growing shift toward compressed natural gas (CNG) […]
Pharmaceutical exports jump by 146% in February – CSO
Preliminary figures from the Central Statistics Office show that exports of medical and pharmaceutical products jumped by €9.2 billion, or 145.7%, to €15.6 billion in February on the same month last year. The CSO said this represented 63.2% of total exports in February, which underscores the significance of the pharmaceutical industry to the Irish economy. […]
Government urged not to overly delay pension auto-enrolment
The Government is being urged not to defer the deadline for auto-enrolment of workers into pension schemes beyond early 2026. The deadline is set to be pushed by beyond the current September date, in an effort to keep business costs low. Minister for Public Expenditure Jack Chambers said it is expected to be a short […]