Department of Finance’s economic forecasts to take US tariffs into account
The Department of Finance will publish economic forecasts for Ireland to take account of tariffs imposed by the Trump administration in the United States. The document will be brought to a meeting of the Cabinet and launched by Minister for Finance Paschal Donohoe and Minister for Public Expenditure Jack Chambers. The forecasts set out two […]
Enterprise Minister to urge agencies to cut red tape for SMEs
Minister for Enterprise Peter Burke is to meet with the heads of 19 agencies and offices under his remit to instruct them to reflect on their processes and the obligations they put on small businesses. They will be called on to significantly simplify their policies, slash red tape and make any forms or statutory applications […]
Services sector growth slows in April amid trade concerns, PMI shows
Growth in the country’s services sector slowed in April to its lowest level in over a year as international trade tensions weighed on business sentiment, a survey shows today. The AIB Global S&P Purchasing Managers’ Index (PMI) fell to 52.8 in April from 55.3 in March, still above the 50 level that separates growth from […]
Small and medium firms investing less post pandemic, ESRI report shows
The scarring effects of the pandemic has resulted in small and medium firms investing less in their businesses, according to the Economic and Social Research Institute. It found nearly 60% of enterprises invested in capital in 2023 compared to 64% before the Covid-19. At the same time there was a significant fall in funds allocated […]
New electric car registrations up 25.5% so far this year – SIMI
New figures from the Society of the Irish Motor Industry show that new car registrations rose by 1.9% in April, while registration of battery electric cars jumped by 23.7%. SIMI said that new car registrations rose to 8,731 in April compared to April last year. Registrations so far this year are up 3.4% to 73,505 […]
China mulls US trade talks offer, warns not to engage in tariff ‘extortion’
Beijing is “evaluating” an offer from Washington to hold talks over US President Donald Trump’s 145% tariffs, China’s Commerce Ministry has said, although it warned the United States not to engage in “extortion and coercion”. Washington and Beijing have been locked in a cat-and-mouse game over tariffs, with both sides unwilling to be seen to […]
Manufacturing growth strongest in April since mid-2022, PMI shows
Growth in the country’s manufacturing sector accelerated in April thanks to a robust expansion in new orders amid signs of stock building due to tariff uncertainty, a survey showed today. The Purchasing Managers’ Index (PMI) rose to 53 from 51.6 in March, the latest report from AIB shows, moving further above the 50 threshold that […]
Euro zone grows quicker than forecast before large trade war hit
The euro zone economy grew faster than expected in the first quarter, starting 2025 on a modestly upbeat note before a trade war with the US, a surging currency and deteriorating business sentiment weaken it, data showed today. The world’s second-largest economic bloc has barely grown over the past several years as businesses held back […]
Higher food prices push inflation up to 2% in April – CSO
Inflation rose by 2% in the 12 month period to April of this year, driven mainly driven by higher food prices. The latest figures show a marginal increase in the rise in the cost of living as measured by the Central Statistics Office as the figure for the 12 months to March was 1.8%. The […]
Low supply among issues driving price of farmland – SCSI
Low supply, increasing demand from dairy farmers and issues around succession were the main factors driving up the price of agricultural land last year, according to a report. The study, from the Society of Chartered Surveyors Ireland and Teagasc, indicates the average price of agricultural land rose by 7% to €9,907 per acre between 2023 […]
Government confirms delay of pension auto-enrolment
The Government has confirmed that the start date for pension auto-enrolment is to be delayed from 30 September 2025 to 1 January 2026. Minister for Social Protection Dara Calleary said the commencement of the collection of contributions for the automatic enrolment retirement savings system, called My Future Fund, was being moved to align the new […]
Early CSO estimates show GDP growth of 3.2% in Q1
Preliminary figures for Gross Domestic Product, a measure of the economy which includes the contribution from multinationals, shows an increase of 3.2% in the first three months of this year compared to the last quarter of 2024. The Central Statistics Office said the rise was “was driven by an increase in the multinational dominated sectors […]
Still gradual margin for rate cuts – ECB’s Villeroy
US President Donald Trump’s tariff threats are creating uncertainty for economies around the world but there is still margin for further interest rate cuts in Europe as inflation in the euro-zone heads lower, European Central Bank (ECB) policymaker Francois Villeroy de Galhau said today. “We are in a moment of great uncertainty. Mr Trump’s polices […]
Most Irish consumers trust cards over other payment methods
73% of Irish consumers trust cards over all other payment methods, new data shows. The research carried out by Payments Europe reveals that 55% of consumers believe cards are the best payment method when considering safety and security, while 59% choose cards for their convenience and 54% for speed. Given the opportunity, 63% of Irish […]
Cabinet to consider memo on new Housing Activation Office
A memo to establish a new Strategic Housing Activation Office will go to the Cabinet this morning. However, the anticipated appointment of NAMA boss Brendan McDonagh to head up the new agency may not be finalised today. Government sources have indicated that issues around the setting up of the office will have to be “teased […]
IMF-World Bank meetings end with little tariff clarity, but economic foreboding
Global finance leaders came to Washington last week seeking clarity on what it would take to get some relief from President Donald Trump’s multi-layered tariff assault and on just how much pain it will bring to the world economy. Most headed home with more questions than answers. Many participants in the International Monetary Fund and […]
EU will ‘leave no stone unturned’ to reduce trade uncertainty – Donohoe
The European Union will do all it can to engage with the United States on trade and reduce the massive uncertainty that is weighing down the global economy, Minister for Finance Paschal Donohoe has said, underscoring unity among the bloc’s members. “What we are trying to do in our engagement with the US through the […]
Number of uninsured drivers on roads drops
The percentage of uninsured private vehicles on Irish roads has almost halved following the introduction of the new Irish Motor Insurance Database (IMID) system, which is aimed at assisting gardaí to easily detect uninsured drivers. According to research conducted by the Motor Insurers’ Bureau of Ireland (MIBI), last year there were 101,881 uninsured private vehicles […]