Steady growth in mortgage approvals continued in January – BPFI
January saw the first year-on-year decline in first-time buyer approval volumes since June 2024, new figures from Banking & Payments Federation Ireland show today. Today’s figures show that a total of 3,395 mortgages were approved in January 2025, down by 5.5% on a monthly basis but up by 4.1% compared to the same time last […]
Trump signs order to establish strategic bitcoin reserve
US President Donald Trump yesterday signed an executive order to establish a strategic bitcoin reserve, a day before meeting with executives from the cryptocurrency industry at the White House. The reserve will be capitalised with bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings, the White […]
Domestic economy posts ‘healthy’ growth of 2.7% in 2024 – CSO
The domestic economy grew by a healthy 2.7% last year, according to the latest figures from the Central Statistics Office. Gross Domestic Product, which includes the multinationals activity, rose by 1.2% in 2024. Personal spending on goods and services, a key indicator of the domestic economy rose 2.3%, while wages grew by 2.9%. Modified investment […]
People look to new backup power sources after Storm Éowyn
The damage wreaked by Storm Éowyn in January has caused many home and business owners to look at other sources of backup power for the next big storm. The most popular choice is a petrol or diesel generator. Both Government and opposition politicians have called for a supply of generators to be set up and […]
Govt ‘scenario planning’ for effects of US tariffs on EU
The Government is scenario planning for effects of tariffs being imposed on goods from Ireland by the Trump administration, according to the Minister for Public Expenditure Jack Chambers. He said the planning included looking at the consequences on “businesses, consumers and the broader economy”. Minister Chambers said tariffs “would impose serious costs on Irish citizens […]
Tax receipts in year to February up 12% on last year
Tax receipts in the first two months of this year are up 12% on the same time in 2024, indicating that the economy continues to power ahead. In addition, the State’s coffers benefitted from a €1.7 billion payment which was part of a settlement made by Apple. The payment related to the Court of Justice […]
Services growth eases slightly in February, PMI show
Growth in the country’s services sector eased slightly in February, with both total activity and new business expanding at the weakest rate for more than a year, a survey showed today. The AIB Global S&P Purchasing Managers’ Index (PMI) fell to 53.2 from 53.4 in January. The index has been above the 50 mark that […]
Irish companies warned to prepare for possible US tariffs
The Irish Exporters Association has warned companies to prepare for the possibility of tariffs being imposed on exports from the EU to the US. The CEO of the Irish Exporters Association Simon McKeever said: “People need to take this seriously. Any idea that Donald Trump is not going ahead with tariffs is a misconception.” “People […]
No sign of increased house or apartment building
New figures from the Central Statistic Office show there is no sign of an increase in the building of houses and apartments. Residential construction declined by 0.1% in the final three months of last year compared to the same period in 2023. The latest data from the CSO monitors ongoing building work and differs from […]
Inflation at 1.3% in February, CSO’s flash estimate shows
Consumer prices rose by 1.3% year-on-year in February compared to a 1.5% rise a month earlier, a flash estimate of the Harmonised Index of Consumer Prices from the Central Statistisc Office show. The CSO said that energy prices are estimated to have risen by 0.7% in the month and decreased by 2.5% over the 12 […]
Taoiseach to raise US tariffs during White House meeting
Taoiseach Micheál Martin has said he will tell US President Donald Trump that tariffs could cause damage to a “small open economy” like Ireland when the two men meet in Washington next month. Speaking to reporters in Dublin, Mr Martin said that he “will give our perspective” on the issue at the White House on […]
Retail sales down 0.5% on a monthly basis in January – CSO
Retail sales fell by 0.5% month-on-month in January and by 0.3% year-on-year, new figures from the Central Statistics Office show today. The CSO said that excluding car sales, the monthly volume of retail sales was down by 1.5% in January from the previous month and was down 0.3% in the year when compared with January […]
Bitcoin slides more than 5% to lowest since November
Bitcoin fell to a three and a half month low today, dragged by uncertainty about US President Donald Trump’s tariff plans and crypto policy and flagging investor confidence after a $1.5 billion hack in rival coin ether. Bitcoin, the world’s largest cryptocurrency by market value, was last down more than 5% on the day at […]
‘Step-by-step’ approach to be taken on Trump’s EU tariffs, says Taoiseach
Ireland will take a “step-by-step” approach in response to any trade tariffs imposed on the EU by US President Donald Trump, Taoiseach Micheál Martin has said. Mr Martin said the detail of individual moves made by the White House would be key, but he reiterated his view that tariffs posed an economic risk that could […]
ECB accounts show lingering inflation worries
Euro zone inflation was heading back to target but there were still some worries about inflation, warranting caution in signalling further policy easing, the ECB concluded last month, according to the accounts of their January 29-30 meeting. The ECB cut rates for the fifth time since June last month and hinted at even more policy […]
US policy shifts weighed on Irish consumer confidence
Cost-of-living concerns and US policy shifts weighed on Irish consumer confidence in February, according to the latest Credit Union Consumer Sentiment Survey. The study notes that a spate of announcements of price increases during the month suggest pressure on household finances remains an issue. While it says increased concerns about the implications of policy changes […]
Europe launches plan to bolster clean tech sector, aid ailing industries
The European Commission has today proposed making €100 billion available to support EU-made clean manufacturing, streamlining public procurement processes and simplifying state aid rules to give Europe’s ailing industries a boost. The measures are part of a new Clean Industrial Deal under which the EU executive would provide support for energy-hungry industries that face “high […]
Number of private tenancies rose 7.6% in 2024 – RTB
Despite concerns that landlords are leaving the market, new research from the State body which regulates the rental sector shows the number of registered private tenancies rose by 7.6% last year to 240,964. The Residential Tenancies Board (RTB) also found there was a significant rise in tenancies in properties provided by Approved Housing Bodies which […]