Awareness of EU taxonomy system low among Irish firms
New research has found that many Irish financial services firms are not aware of a European Union system that is designed to help companies, investors and policymakers to figure out which economic activities are sustainable for the environment. The EU’s Taxonomy Regulation aims to assist those involved in business to make educated choices about product […]
Over 11,000 extra tourist beds needed by 2032 – ITIC report
An estimated 11,500 additional tourism beds will be required here in the next decade if Ireland is to meet projected demand, a new report on the sector has concluded. The report was carried out by economist Jim Power on behalf of the Irish Tourism Industry Confederation. It partly bases its projections on estimates for growth […]
House prices post first month-on-month growth this year – CSO
Residential property prices recorded their first monthly increase this year in June, growing by 0.6% compared to May, new figures from the Central Statistics Office show. But annual residential property price inflation slowed again to 2.2% in June from 2.6% in May, the CSO added. Property prices in Dublin were 0.9% lower on an annual […]
EU greenhouse gas emissions fall 3% in first quarter of 2023
Greenhouse gas emissions in the European Union fell by nearly 3% in the first quarter of 2023, even as the bloc’s economy grew slightly, statistics agency Eurostat said today. The EU’s emissions over the January to March quarter amounted to 941 million metric tonnes of CO2 equivalents, down 2.9% from a year earlier, while the […]
Industrial output jump gives euro zone growth small boost
The euro zone’s vast industrial sector rebounded in June, giving overall growth a small boost to end an otherwise weak quarter on a positive note, data from Eurostat showed today. Industrial production in the 20 nations sharing the euro expanded by 0.5% on the month, beating expectations for a 0.2% rise. Gross domestic product was […]
Exports down 3% in first half of 2023, imports up 2% – CSO
New figures from the Central Statistics Office figures show that the country’s unadjusted exports increased by €1.8 billion to €19.5 billion in June compared with the same time last year. When seasonally adjusted, exports of goods grew by more than €2.4 billion compared with May, the CSO said. Today’s figures show that unadjusted imports for […]
44% of people now work from home at least 1 day a week – ComReg survey
A new consumer survey shows that 44% of respondents now work from home online at least one day a week. The Commission for Communications Regulation’s latest Broadband Connectivity consumer survey also shows that a third of respondents work from home online at least three days a week. ComReg noted that working from home online is […]
Historically low housing stock levels impacting market – Sherry FitzGerald
The stock of second-hand homes available on the market has reached a historic low, according to estate agents Sherry FitzGerald. Its analysis shows that there were 13,750 homes – excluding new builds – listed for sale in July, representing just 0.7% of the entire private housing stock in the country. Sherry FitzGerald says it amounts […]
Plans to double public service apprenticeship places
The Government has announced plans for nine new apprenticeship programmes in the public service. If realised, the proposals will lead to the doubling of apprenticeship places in the public service including local authorities over the next two years. Currently there are around 373 such apprenticeships in operation, up 103 since 2021. The development of a […]
Irish economy will outperform EU peers – Mastercard
The Irish economy will continue to outperform its EU peers, according to the Mastercard Economics Institute, as consumer fundamentals remain strong. It said Irish consumers have been relatively resilient despite the huge inflation shock. A tight labour market with strong employment growth and historically low unemployment at 3.8% in June has supported the economy. Mastercard […]
Conveyancing delays leading to failed property sales – IPAV
Growing and serious delays in the conveyancing process are leading to property sales falling through, estate agents are reporting. A survey conducted by the Institute of Professional Auctioneers and Valuers (IPAV) has found that four out of every five agents say they have seen sales fail because of the problem. 26% said it occurred frequently, […]
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 […]