Second hand home prices rose by 8.4% last year
The average price of a second hand home rose by 8.4% last year, almost double the rate of growth witnessed in 2023, the latest residential market review and outlook from property advisors DNG shows. The latest DNG National Price Gauge (NPG) shows the annual rate of price growth nationwide strengthened in the second half of […]
Euro zone inflation jumps in December on higher energy costs
Euro zone inflation accelerated in December, an unwelcome but anticipated blip that is unlikely to derail further interest rate cuts from the European Central Bank. Inflation in the 20 nations sharing the euro picked up to 2.4% last month from 2.2% in November, Eurostat said today, in line with expectations in a Reuters poll of […]
Irish food and drink exports hit record high
Irish food, drink and horticulture exports were worth €17 billion last year, according to Bord Bia – a record high. The figure represents a 5% increase on 2023, according to its Exports Performance and Prospects Report for 2024/25. However Bord Bia said higher pricing was the primary driver of export value growth last year, with […]
Corporation tax increased by 18% last year to €28bn – Department of Finance
Corporation tax increased by 18% last year to €28bn, according to the latest Exchequer Returns from the Department of Finance. When €11bn, which has been raised so far from the Apple tax case, is included in corporation tax figures the total was €39.1bn. But the Department of Finance has warned that Ireland can not continue […]
Services new business growth hits nine-month high in December
The services sector activity expanded slightly slower in December but growth in new business hit its fastest pace since March and optimism for the coming 12 months improved, a survey showed today. The AIB Global S&P Purchasing Managers’ Index (PMI) slipped to 57.1 in December from 58.3 in November, but remained well above the 50 […]
Euro zone economy ended 2024 in precarious state, PMI shows
The euro zone economy ended 2024 in a fragile state, according a survey which showed overall activity contracted for a second month in a row December as a modest recovery in the services industry failed to offset a deeper downturn in manufacturing. HCOB’s final composite Purchasing Managers’ Index for the bloc, compiled by S&P Global […]
NTMA plans syndicated bond issue during first quarter
The National Treasury Management Agency said it plans to issue a new bond via syndication in the first quarter of the year. The NTMA also said it will hold a bond auction on March 20. The agency in November said it planned to issue between €6 billion and €10 billion in bonds over the course […]
Exceptional weather needs exceptional response from employers
HR professional body CIPD has said that large parts of the country are facing exceptional weather conditions this week and such a situation requires an exceptional response from employers. Director of CIPD Mary Connaughton said the number one workplace priority for employers and their workers is safety. “As such, we would expect to see employers […]
Lower than expected number of insolvencies in 2024
A new survey reveals significantly lower insolvencies than expected in the last quarter of 2024 and for the entire year. PwC’s latest Insolvency Barometer shows there were 852 insolvencies in 2024, an increase of 16% on the 734 insolvencies in 2023. But the final figure for the year is significantly lower than the more than […]
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 – […]