Gas demand down by 20% in July – Gas Networks Ireland
New figures today show that gas demand decreased by 20% in July compared to the same month last year, and by 8% when compared to June. Gas Networks Ireland said that gas demand fell by 46% in the construction sector, by 32% in the large office sector and by 31% in the education sector. Gas […]
84% rise in commercial bus use in 2022, significantly below pre-Covid levels – report
The number of passengers using commercial bus services in Ireland rose last year by 84%, according to new figures from the National Transport Authority (NTA). The report shows there were almost 19 million passenger journeys on licensed public bus services in 2022, but that is still well below the 30 million seen in 2019, before […]
Decline in construction activity in July – BNP Paribas Real Estate
After having returned to growth in June, construction activity in Ireland saw a renewed decline in July, after the BNP Paribas Real Estate Purchasing Managers’ Index. It also highlighted the first fall-off in new orders in six months. John McCartney, Director & Head of Research at BNP Paribas Real Estate Ireland, said the decline in […]
Climate accelerator programme opens for submissions
A new climate accelerator programme aimed at SMEs and start-ups operating in the built environment has opened for submissions. The Built Environment Accelerator is a collaboration between Tangent, Trinity College Dublin’s Ideas Workspace, and innovation hub Green TechHQ. It is supported by EIT (European Institute of Technology) Climate KIC (Knowledge and Innovation Community). Recognising the […]
Annual rate of inflation falls slightly in July – CSO
The annual rate of inflation stood at 5.8% in July, down from 6.1% in the 12 months to the end of June, new figures from the Central Statistics Office show. However, the cost of goods and services rose by 0.2% in July when compared with June, according to the Consumer Price Index. The CSO noted […]
Advertised rents rise another 2.4% in second quarter – Daft.ie
Advertised rents across the country increased by 2.4% between April and June, when compared to the first three months of the year. According to property listings website Daft.ie, the average market rent nationally in the second quarter stood at just under €1,800. It means rents sought in the open market are now 10.7% higher than […]
Average interest rate on new mortgages here now above 4%
The average interest rate on new mortgage arrangements in Ireland has breached the 4% mark. Figures from the Central Bank show that the average interest rate on new mortgages rose from 3.84% in May to 4.04% in June. The increase of 0.2 percentage points was the second biggest jump in average rates in the euro […]
Advertised rents rise another 2.4% in second quarter – Daft.ie
Advertised rents across the country increased by 2.4% between April and June, when compared to the first three months of the year. According to property listings website Daft.ie, the average market rent nationally in the second quarter stood at just under €1,800. It means rents sought in the open market are now 10.7% higher than […]
Government body faced difficulty in arranging power supplies for state agencies due to market volatility
The Government body responsible for arranging power supply for state agencies could not even get companies to bid to provide electricity because of “extreme volatility” in energy prices last year. The Office of Government Procurement (OGP) tried to run a second tender competition, even making changes to the contract to encourage a “more positive market […]
Ireland had highest consumer prices in EU in 2021
Ireland had the highest price levels for consumer goods and services across the 27 countries of the European Union in 2021, a report from the Central Statistics Office has found. Prices were 43.8% above the average of the 27 countries, known as the EU27, it concluded. The latest Measuring Ireland’s Progress report covers the year […]
Retail spend in capital rose again in second quarter
Retail spending in Dublin rose again between April and June, the ninth consecutive quarterly increase. Spend was up 1.1% on the previous quarter and 4.7% on the same period a year earlier, according to the latest MasterCard SpendingPulse, produced in conjunction with Grant Thornton and the four Dublin local authorities. However, while strong domestic demand […]
Euro zone bond yields drop as risk sentiment worsens, inflation fears ease
Euro zone bond yields dropped today as a European Central Bank (ECB) survey showed consumers expect inflation to keep slowing, while risk sentiment worsened on sticky inflation in Germany, weak China trade data and pressure on Italian banks. The ECB’s monthly Consumer Expectations Survey showed the median respondent in the June edition expected inflation to […]
Ireland tops EU poll for working from home growth
Ireland is leading the charge in terms of how rapidly remote working is taking the place of traditional office-based work, according to analysis of Eurostat data by BNP Paribas Real Estate. Netherlands has the highest percentage of its workforce engaged in remote working (over 50%), while Ireland is adopting remote working at the fastest rate […]
Restaurants seek retention of 9% VAT rate
Ireland should retain the hospitality sector’s reduced VAT rate but only for food-related businesses, according to a restaurant representative group. Chief Executive of the Restaurants Association of Ireland Adrian Cummins warned that many food-related businesses will cease trading if the reduced rate of 9% is reverted – as planned – to the standard 13.5% next […]
Live Register figures edge 0.1% higher in July – CSO
New figures from the Central Statistics Office show that the seasonally adjusted Live Register total for July rose by 0.1%, or 200, from June to reach a total of 183,500 people. The CSO said the unadjusted Live Register total stood at 195,095 for last month. Of the 195,095 people on the unadjusted Live Register in […]
Decline in euro zone business activity accelerated in July – PMI
The downturn in euro zone business activity worsened more than initially thought in July as the slump in manufacturing was accompanied by a further slowing of growth in the bloc’s dominant services industry, a survey showed. HCOB’s final Composite Purchasing Managers’ Index (PMI) is compiled by S&P Global and seen as a good gauge of […]
Indeed economist says it is still job seekers’ market
The labour market remains a positive backdrop for job seekers with postings on job site, Indeed, 30% higher than before the pandemic. The rate of unemployment in July was 4.1% according to the CSO. Economists consider an unemployment rate of 4% cent or less as tantamount to full employment. Senior economist with Indeed, Jack Kennedy […]
Surge in car and home improvement loans in Q1 – BPFI
There has been a surge in car and home improvement loans in the first quarter of 2023 as personal lending hit €481m, according to the Banking and Payments Federation Ireland Personal Loan Report. Overall, the report shows a considerable jump in personal loans activity on the same time last year. The value of personal loan […]