Used cars 79% more expensive than pre-pandemic
Asking prices for used cars are 79% higher than they were pre-pandemic, but the rate at which prices are rising is slowing. New figures from listings website DoneDeal show the annual rate of inflation slowed to 10.7% in the second quarter of this year. That is down from 26.6% the same time last year, and […]
Disadvantaged areas hit harder by unemployment during pandemic – ESRI
A new report from the Economic and Social Research Institute (ESRI) has found that people living in disadvantaged areas experienced greater disruption to their employment during the Covid-19 pandemic. The study, entitled ‘Pandemic Unemployment and Social Disadvantage in Ireland’, was carried out in collaboration with Pobal. Pobal is an organisation that administers and manages Government […]
New platform aimed at addressing skills gap launched
A new platform aimed at addressing skills gaps in the workforce and wider economy is being launched today. MicroCreds.ie has been developed by the Irish University Association in conjunction with a number of universities offering hundreds of short, flexible courses with university-accreditation. MicroCreds partner universities have developed courses in key skills areas including sustainability, digital […]
96% of Ulster Bank and KBC Bank Ireland accounts now closed
New Central Bank figures show that just over 96% of all current accounts that were open in Ulster Bank and KBC Bank Ireland at the beginning of 2022 were either closed or inactive by the end of June this year. Ulster Bank and KBC Bank announced their intentions to leave the Irish market in 2021. […]
27% of jobs at high risk from AI revolution – OECD
More than a quarter of jobs in the OECD rely on skills that could be easily automated in the coming artificial intelligence revolution, and workers fear they could lose their jobs to AI, the OECD said today. The Organisation for Economic Co-operation and Development (OECD) is a 38-member bloc, spanning mostly wealthy nations but also […]
New home starts up 7% compared to same period last year
The three coalition leaders and Minister for Housing Darragh O’Brien will unveil the latest progress report on the Government’s “Housing For All” plan. The data relates Q2, from April to June this year. It shows building started on 12,987 new homes in the first five months of 2023, up 7% when compared to the same […]
Home asking prices up 2.2% in second quarter – MyHome
Asking prices for homes across the country were 2.2% higher between April and June than they were during the same period last year, as the market began to show signs of stabilising. The MyHome.ie quarterly house price report shows that during the period, the national median price sought for a home was €325,000, an increase […]
New electric car sales up 65% in first half of 2023
New figures from the Central Statistics Office show that the number of new electric cars licensed has increased by 65% from 8,309 in the first half of 2022 to 13,701 in the first half of 2023. The CSO said that in the first six months of this year, 25,446 of the new cars licensed were […]
First increase in construction activity recorded since September of 2022
Construction activity in Ireland increased in June for the first time since September of last year, albeit slightly. New data from the BNP Paribas Real Estate Ireland Construction Purchasing Managers Index shows new orders and employment both continued to expand during the month. They also did so at their quickest pace since March. Inflation also […]
Euro zone price pressures finally easing – ECB’s de Guindos
The ECB has raised interest rates at every meeting over the past year and promised another hike this month The ECB has raised interest rates at every meeting over the past year and promised another hike this month Underlying inflation pressures, a key focus for the European Central Bank, are finally easing across the euro […]
€783m paid in unpublished tax settlements last year
A massive €783m was paid last year in unpublished tax settlements involving close to 55,000 separate companies and members of the public. A total of €665m was paid out by companies in 35,684 separate settlements, an average of around €19,000 each. A further €103m had to be given to Revenue by individual taxpayers and members […]
1 in 3 struggling to survive financially – CCPC report
One in three people in Ireland say they are just about getting by financially, a new report conducted on behalf of the Competition and Consumer Protection Commission (CCPC) suggests. More than 1,500 people were surveyed for the study, which is the first in a series of reports on financial wellbeing in Ireland. The study and […]
IFAC: Govt to boost core spending by more than stated in Summer Economic Statement
The Irish Fiscal Advisory Council has calculated that the Government plans to increase core spending next year by €5.5 billion, some €250 million more than set out in the Summer Economic Statement published yesterday. In a series of tweets, the Council said this would see spending rise by 6.4% and not the 6.1% in the […]
Euro zone retail sales flat in May, still down year-on-year
Retail sales volumes in the 20 nations sharing the euro currency were unchanged from April and were 2.9% lower year-on-year. That compared with average forecasts in a Reuters poll of economists of a 0.2% monthly rise and a 2.7% decline from a year earlier. Consumption has been sluggish as real incomes fall and households are […]
1 in 3 struggling to survive financially – CCPC report
One in three people in Ireland say they are just about getting by financially, a new report conducted on behalf of the Competition and Consumer Protection Commission (CCPC) suggests. More than 1,500 people were surveyed for the study, which is the first in a series of reports on financial wellbeing in Ireland. The study and […]
2022 sees biggest fall in Government debt since 2014 – NTMA
Ireland’s General Government debt fell by €11 billion to €225 billion in 2022 and has the potential to fall below €200 billion by 2030, according to the National Treasury Management Agency (NTMA). The NTMA has published its 2023 mid-year business update which shows that the fall in Government debt in 2022 was the first since […]
1 in 3 struggling to survive financially – CCPC report
One in three people in Ireland say they are just about getting by financially, a new report conducted on behalf of the Competition and Consumer Protection Commission (CCPC) suggests. More than 1,500 people were surveyed for the study, which is the first in a series of reports on financial wellbeing in Ireland. The study and […]
Euro zone consumers see lower inflation ahead – ECB poll
Euro zone consumers cut their inflation expectations for the following 12 months again in May, although they still saw prices growing faster than the European Central Bank would like for years to come, a new ECB poll showed today. The ECB’s monthly Consumer Expectations Survey also showed modest expectations for income growth. The survey was […]