Sharpest decline in production volumes for six months
There were subdued business conditions across the Irish manufacturing sector, according to the latest AIB Manufacturing Index. December data showed a sustained reduction in new orders which contributed to the fastest decline in production volumes since June. At 49.1 in December, down from 49.9 in November, the seasonally adjusted index posted below the 50.0 no-change […]
Electric Vehicle sales dropped 24% in 2024
The number of new cars bought in 2024 was 121,195, according to the Society of the Irish Motor Industry. The figure represents a slight decrease of 1% compared to 2023. 17,459 new electric cars were registered last year, a decrease of 24% in the registrations seen the previous year. Petrol remained the most popular engine […]
Dollar stands tall in 2024, propped up by cautious Fed, Trump trade
The dollar slipped on the last trading day of the year today but was poised to clock strong gains in 2024 against almost all currencies as investors prepared for fewer US rate cuts and the incoming Trump administration. The dollar’s ascent, buoyed by rising Treasury yields, pushed the yen toward its lowest levels since July […]
House prices rise 9% in 2024
House prices nationally rose by an average of 9% during 2024, according to the latest house price report by Daft.ie. The typical listed price nationwide in the final quarter of 2024 was €332,109, 1.4% higher than in the third quarter of the year and 30% higher than at the onset of the pandemic. Prices rose […]
Annual inflation doubles to 1% in December, flash estimate shows
Consumer prices rose by 1% in the year to December, double the rate of 0.5% recorded in November, a flash estimate of the Harmonised Index of Consumer Prices (HICP) from the Central Statistics Office showed today. December HICP growth was the highest since August, when it reached 1.1%. Today’s CSO estimates show that energy prices […]
European stocks clock worst quarterly showing since 2022
European stocks recorded their worst quarterly showing in more than two years today, as uncertainty around interest rates and the Trump administration’s policies halted a rally that had pushed several markets to record highs this year. The pan-European STOXX 600 added 0.6% on the final trading session of the year, but clocked a quarterly decline […]
Spending by BOI customers up 6.8% on Black Friday
Black Friday sales are an established part of the Irish retail calendar, as demonstrated by a Bank of Ireland report which shows spending by its customers on the day was up 6.8% on last year. Overall spending in the month of November was up 5.6% compared to the same month in 2023. The report found […]
Residential property prices up 9.7% in October – CSO
Property prices are continuing to increase and are up 9.7% in the 12 months to October, according to the latest figures from the Central Statistics Office. Prices in Dublin were up 10.4%. while the cost of buying a home outside the capital rose 9.2%. The figures come a week after the Economic and Social Research […]
Fed cuts rates but sees slower pace of further reductions
The US Federal Reserve has cut interest rates, as expected, but Fed Chair Jerome Powell said more reductions in borrowing costs now hinge on further progress in lowering stubbornly high inflation. His latest remarks showed that policymakers are starting to reckon with the prospects for sweeping economic changes under a Trump administration. Powell’s explicit – […]
€33k a year pension needed for ‘comfortable’ retirement
A single person would need a pension of €33,600 a year, and a couple would need €43,200 a year, in order to have a “comfortable” retirement. The figures are contained in a new report on Irish retirement living standards released by the Pensions Council which was prepared and researched by KPMG. It shows that for […]
Planning permissions down 10.9% in third quarter – CSO
New figures from the Central Statistics Office show an annual decrease of 10.9% in the total number of dwelling units approved in the third quarter of this year, with the number falling to 8,611 units from 9,662 units the same time last year. The CSO said that houses accounted for 61% of all homes granted […]
Holyhead Port to stay closed until 15 January ‘at the earliest’
Holyhead Port is to remain closed until 15 January at the earliest, it has been announced. All ferry services between Dublin and Holyhead are cancelled until this time. In a statement, the port said the closure follows damage to the Terminal 3 berth on 6 December, during Storm Darragh. It acknowledged that the closure of […]
Ireland failing to comply with EU rules on professional qualifications
Ireland is one of 22 EU member states who are failing to comply with EU rules on professional qualifications, according to the European Commission. The Commission has opened infringement procedures by sending formal letters of notice to the countries. The rules are designed to make it easier for professionals to provide their services on a […]
Europe’s jobs market continues to soften in third quarter
Europe’s labour market softened in the third quarter, data releases showed today, pointing to a further decline in inflation pressures that could justify more interest rate cuts. The rise in euro zone labour costs slowed to 4.6% in the third quarter from 5.2% three months earlier while the jobs vacancy rate slipped to 2.5% from […]
Exports in October rise by 21% on last year – CSO
New figures from the Central Statistics Office show that exports of goods for the first ten months of the year came to €187 billion, an increase of 13% on the same time last year. But imports have fallen by €4 billion in the months from January to October compared with the first 10 months of […]
1,076 jobs saved due to SCARP over past three years
Over 1,000 jobs have been saved through the Small Company Administrative Rescue Process (SCARP) since it was launched three years ago, new figures show. The scheme aims to facilitate simplified out-of-court debt restructuring for small businesses deemed to be viable. A process adviser is appointed under the scheme to prepare a rescue plan and to […]
Just a fraction of fines imposed by DPC collected so far
Just a tiny fraction of the €3.26 billion in fines levied by the Data Protection Commission (DPC) over the past five years has been collected. The DPC said that of all fines issued between 2020 and the end of October this year, only €19.9m of the total has been paid so far. The total amount […]
Fuel prices move higher again in December
Fuel prices increased again this month, the latest AA Ireland Fuel Survey reveals. Petrol prices rose by a cent to an average of €1.74 per litre, while diesel prices increased by three cents this month to €1.71 per litre. AA Ireland noted that crude oil prices remain steady month on month at around $73 a […]