Manufacturing growth continues despite export challenges, PMI shows
The country’s manufacturing sector grew at a solid pace in May as strong domestic demand offset a second successive monthly decline in export orders due to subdued sales into the US and Britain, a new survey showed today. AIB’s Manufacturing PMI fell slightly to 52.6 from April’s 53, but was above the 50 threshold indicating […]
OECD cuts global 2025 growth forecast to 2.9% over tariffs
The OECD has slashed its annual global growth forecast today, warning that US President Donald Trump’s tariffs blitz will stifle the world economy – hitting the US especially hard. After 3.3% growth last year, the world economy is now expected to expand by a “modest” 2.9% in 2025 and 2026, the Paris-based Organisation for Economic […]
Ibec calls for increased public investment in research and innovation
Business group Ibec has warned that Ireland’s current public investment model for research and innovation does not match the country’s ambition to become a European Innovation Leader. In a new report published as part of its Business Ambition campaign, Ibec said Ireland must increase public investment in research and innovation to 1% of Gross National […]
US appeals court temporarily reinstates Trump’s tariffs
A US federal appeals court has reinstated the most sweeping of President Donald Trump’s tariffs, a day after a trade court had ruled he had exceeded his authority in imposing the duties and had ordered an immediate block on them. The United States Court of Appeals for the Federal Circuit in Washington’s order provided no […]
Mortgage approvals continued to grow in April
There were 2,922 first-time buyer (FTB) approvals valued at almost €1 billion (€965m) in April, according to the latest figures from the Banking and Payments Federation of Ireland’s Mortgage Approvals Report. The report shows the highest April FTB levels since the data series began in 2011. The number of mortgages approved rose by 4.7% month-on-month […]
More than two-thirds of job applications rejected due to lack of relevant skills – survey
More than two-thirds of job applications are rejected due to a lack of relevant skills, according to new research from hiring platform IrishJobs. The Recruiter & Jobseeker Survey gathered insights from 553 recruiters and 738 jobseekers in Ireland to identify changing attitudes and actions on hiring processes. The study showed that 78% of employers are […]
Dublin Airport expecting 500,000 passengers this weekend
Dublin Airport is expecting almost half a million passengers over the coming bank holiday weekend. The airport is expecting more than 115,000 passengers every day between Friday and Monday, with a total of 480,000 set to pass through its two terminals. The four days between Friday and Monday will see almost 250,000 passengers departing from […]
US firms plan to pass Trump tariff costs to consumers: Fed minutes
US firms have warned the Federal Reserve that the cost of President Donald Trump’s tariffs will likely be borne by consumers, according to minutes of the bank’s most recent rate decision. Since returning to office in January, Trump has embarked on a stop-start tariff rollout that has unnerved investors and shaken global financial markets. The […]
Monthly retail sales rise by 1.1% in April – CSO
New figures from the Central Statistics Office show that the volume of retail sales rose by 1.1% in April compared to March, while retail sales were 3% higher on an annual basis compared to April 2024. Today’s CSO figures also reveal that the value of retail sales increased by 1.3% in April from March and […]
IDA consults pharma firms over EU retaliatory tariffs on the US
IDA Ireland sought the views of Irish-based pharmaceutical companies on the EU’s draft list of retaliatory measures to US tariffs earlier this year as part of the Government’s response to the European Commission on the proposals. The European Union published a list of imports from the US which could face tariffs as part of the […]
EPA warns Ireland going backwards on greenhouse gas emissions targets
Ireland has gone backwards in its attempts to achieve its greenhouse gas emissions targets, according to an updated analysis by the Environmental Protection Agency (EPA). The latest greenhouse gas emissions projections from the EPA said emissions could fall by up to 23% by 2030 if every climate policy and measures currently planned by the Government […]
Average weekly earnings surpass €1,000 for first time in Q1 – CSO
Average weekly earnings surpassed €1,000 in the first three months of this year, according to new figures from the Central Statistics Office. Weekly earnings were up 5.6% from €972 in the first quarter of 2024 to €1,026 in the first three months of this year. The figures cover all sectors across the economy excluding agriculture […]
Euro could become the dollar’s alternative, Lagarde says
The euro could become a viable alternative to the dollar, earning the 20-nation bloc immense benefits, if governments could only strengthen the bloc’s financial and security architecture, ECB President Christine Lagarde said today. Unnerved by erratic US economic policy, global investors have been reducing their exposure to dollar assets in recent months but many have […]
Tourism may help support long-term economic growth – BPFI SME Monitor
A new report shows that while export-driven economic growth in the first quarter of this year may not be sustainable, efforts to boost domestic tourism should help to sustain employment and support more balanced growth. But the latest SME Monitor from Banking & Payments Federation Ireland (BPFI) also shows that cost pressures and price increases […]
EU and US agree to fast track trade talks after phone call
The European Commission has said that President Ursula Von der Leyen and US President Donald Trump have agreed to fast track trade negotiations and to stay in close contact following last night’s phone call. Mr Trump has said he would pause his threatened 50% tariffs on the European Union until 9 July, after a “very […]
15% of households couldn’t cope with a financial emergency
How would your household deal with an unexpected financial emergency costing €1,000? That was a question posed as part of this month’s Credit Union Consumer Sentiment survey. Just over a third of consumers say that they would use savings, while 18% say they would use their income, and 15% say they would be unable to […]
Oil edges up after Trump extends EU trade talks deadline to July
Oil prices recorded limited gains today after US President Donald Trump extended a deadline for trade talks with the European Union, easing concerns about US tariffs on the bloc that could hurt the global economy. Brent crude futures rose 18 cents, or 0.28%, to $64.96 a barrel early this morning while US West Texas Intermediate […]
VC funding into Irish SMEs soars in first quarter to €533m
Venture capital funding into Irish SMEs jumped to €532.8m in the first quarter of 2025, new figures from the Irish Venture Capital Association Venture Pulse survey shows. This was a record for a first quarter and marked a year-to-year increase of over 100%. The survey is carried out in association with William Fry. It showed […]