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 […]
Service growth remains robust, inflation pressures ease – PMI
Service sector growth remained robust in July amid a strengthening in business sentiment and a slight easing in still high input and output cost pressures, a survey showed today. The AIB S&P Global Purchasing Managers’ Index (PMI) for services was almost unchanged at 56.7 compared to 56.8 in June. The index has stayed above the […]
Exchequer tax take up 4.6% to €4.57bn in July
Almost €6.57 billion in tax was received by the Exchequer in July, up €303m (4.6%) on the same month of last year. Figures from the Department of Finance show Corporation Tax take continuing to surge, with €333m taken in the month. That is €101m – or 43.3% – more than in July 2022. Income tax […]
Unemployment rate falls to 4.1% in July from revised figure of 4.2% in June – CSO
New Central Statistics Office show that the seasonally adjusted unemployment rate for July eased to 4.1%, down from a revised rate of 4.2% recorded in June. The CSO said it had revised upwards the jobless rate for each month of 2023, meaning the rate did not hit a record low as previously estimated. Previous estimates […]
Irish economy on course for more moderate growth – Ibec
The Irish economy is nearing the peak of the current economic cycle and is on course to enter a period of more moderate growth, Ibec forecasts in its latest economic outlook. The business group points out that while the pipeline of investment and demand remains strong, the economy is on track to experience a natural […]
Manufacturing sector continues to contract, amid drop in new orders
Business conditions in the manufacturing sector continued to deteriorate in July, new figures show. The latest Purchasing Managers Index from AIB reveals the sharpest decline in new orders so far this year. The index dropped slightly to 47, from 47.3 in June and 47.5 in May. Readings above 50 indicate overall growth in activity. The […]
Euro zone factory July activity fell at fastest pace since onset of Covid – PMI
Manufacturing activity across the euro zone contracted in July at the fastest pace since Covid-19 was cementing its grip on the world as demand slumped despite factories cutting their prices sharply, a survey showed today. There was considerable weakness seen in Germany, Europe’s largest economy. France and Italy, the second and third-largest euro zone economies, […]
Ireland posts highest GDP growth in Q2 as euro zone returns to growth
Ireland recorded the highest increase in economic growth in the euro zone in the second quarter of this year, new figures from Eurostat show today. The country recorded GDP growth of 3.3% in the three months to the end of June, compared to the previous quarter. It was followed by Lithuania, which grew by 2.8%. […]