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 […]
Consumers expect weaker economy over next five years
Consumers in the Republic of Ireland and Northern Ireland expect a weaker economy, less favourable job prospects, and higher inflation over the next five years, a new survey suggests. The research – undertaken on behalf of credit unions on the island of Ireland – indicates that people are increasingly concerned by issues around tariffs, infrastructure […]
Home completions up 2% in first quarter of 2025 – CSO
There was a 2% increase in the number of completions in the first three months of this year in comparison to the same time last year, according to the latest figures on home building from the Central Statistics Office. The CSO said there was a 13.4% rise in apartment building with 1,781 units completed but […]
China considers exempting some goods from US tariffs
China is considering exempting some US imports from its 125% tariffs and is asking businesses to identify goods that could be eligible in the biggest sign yet that Beijing is worried about the economic fallout from its trade war with Washington. A Ministry of Commerce taskforce is collecting lists of items that could be exempted […]
Economic worries could weigh on airline results as European bookings drop
European airlines are set to report first-quarter results in the coming weeks, offering outlooks for the lucrative travel season amidst growing worries that economic uncertainty could slow demand and threaten earnings. That comes after the European Travel Commission noted in a study published today that Europeans are making fewer travel plans for this summer on […]
IMF says tariff pressures to push public debt past Covid levels
Economic pressures from steep new US tariffs will push global public debt above pandemic-era levels to nearly 100% of global GDP by the end of the decade as slower growth and trade strain government budgets, the International Monetary Fund said today. The IMF’s latest Fiscal Monitor projected that global public debt will grow 2.8 percentage […]
Govt missed 2024 target on new build social homes
The Government missed its target on new build social homes last year, with a shortfall of more than 1,400. Minister for Housing James Browne said he expects each local authority to do everything possible to meet their targets for 2025. Figures released today show that the target for delivering affordable homes was exceeded. The data […]