28,786 housing units in large developments await An Bord Pleanála permission
There are 28,786 proposed units in a series of large housing and apartment developments currently awaiting a planning permission decision from An Bord Pleanála, according to a new analysis. The Annual Construction Sector Report from consultants Mitchell McDermott found 59% of the applications before An Bord Pleanála for Strategic Housing Developments (SHD) last year did […]
Consumer sentiment hits seven month high in January
Irish consumer confidence hit a seven month high in January, according to the latest Credit Union Consumer Sentiment index. The data suggests that consumers had a less negative view of the economic and financial circumstances of households heading into 2023. The index reached 55.2, up from 48.7 in December, and its strongest level since last […]
75 ‘ghost estates’ still in place across Ireland
A total of 75 so-called “ghost estates” still exist across Ireland more than 15 years after the Celtic Tiger economic and property crash. New figures obtained by RTÉ show that despite the issue falling off the public and political agenda in recent years, it continues to be a daily problem for hundreds of people living […]
Irish film industry hopes Oscar nods will drive further investment
Buoyed by the number of Oscar nominations for Irish films and actors ahead of this year’s awards, the industry is hoping the international spotlight will drive further investment in the sector. The nomination of An Cailín Ciúin in the International Film category is seen as further vindication of the Cine4 initiative, to develop and produce […]
Euro zone January business activity returns to growth – PMI
Euro zone business activity made a surprise return to modest growth in January, adding to signs the downturn in the bloc may not be as deep as feared and that the currency union may escape recession, a survey showed. S&P Global’s flash Composite Purchasing Managers’ Index (PMI), seen as a good gauge of overall economic […]
677,000 visitors to Irish whiskey distilleries in 2022
Visitor numbers are still down a third on the pre-Covid peak of 1.02 million Irish whiskey distilleries around the island of Ireland attracted 677,000 visitors last year, an increase of 425% on 2021. New figures from the Irish Whiskey Association show that visitor numbers are still down a third on the pre-Covid peak of 1.02 […]
Recent market rally prompted by improved outlook
Europe’s main stock markets were little changed at the open today, failing to mirror strong overnight gains in Tokyo and on Wall Street. Stock markets have notched up some decent gains in recent weeks as the economic outlook appears to have improved dramatically on the back of China’s economic reopening after strict Covid-19 lockdowns and […]
370,000 tax returns processed for PAYE taxpayers so far
New data from Revenue shows more than 370,000 tax returns have been processed for PAYE taxpayers who have filed their returns for last year. This represents a 30% increase on the same period last year. Around three quarters of those, some 275,000, resulted in an overpayment of tax. This has led to €193m in total […]
Hairdressers call on Govt to cut VAT rate to 5%
Hairdressers have become the latest group to appeal to the Government to retain the 9% VAT rate, which is due to expire at the end of February. But the sector has gone a step further, by appealing for the rate to be cut further to 5% in order to preserve jobs. ”A failure to support […]
Under-insurance leaving thousands of householders exposed
Nobody needs reminding that we’re in the midst of a cost-of-living crunch. With the price of pretty much everything rising, we’re looking for ways to make savings wherever we can, from the weekly shop to the utilities and, perhaps especially, financial products. One area where householders might be tempted to cut corners is on their […]
Ireland to avoid recession in 2023 report predicts
Ireland will avoid recession this year, due to record household savings and the capacity for the Government to provide support with what a report describes as “the best budget position in the euro area”. Stockbroker Goodbody’s chief economist Dermot O’Leary forecasts that modified domestic demand, which is a measure of the economy that strips out […]
365 jobs secured under small firm rescue process – Baker Tilly
365 jobs have so far been secured as a result of 16 small businesses availing of the expedited restructuring process for viable small firms which need to be rescued financially, according to an analysis by the business advisory firm, Baker Tilly. The Small Company Administrative Rescue Process – known as SCARP – came into operation […]
Euro clears nine month peak as ECB hawks let fly
The euro scaled a nine-month high on the dollar today as more hawkish comments on European interest rates contrasted with market pricing for a less aggressive Federal Reserve. The euro reached as far as $1.0903, breaking the recent peak of $1.08875 and opening the way to a spike top from last April at $1.0936. It […]
Jobs market ‘cooling’ amid fall in vacancies
Job vacancies were down by 11% in the fourth quarter of 2022 compared to the previous year, according to a new study. The latest IrishJobs.ie Jobs Index also reveals a 13% fall in vacancies on a quarterly basis. The report describes the jobs market as “cooling” but finds that the volume of vacancies is still […]
Taoiseach meets big tech at Davos
The Taoiseach is attending the World Economic Forum in Davos where he is meeting political leaders and the chief executives of US multinationals. In the Swiss mountain resort, Leo Varadkar has met Intel CEO Pat Gelsinger and Meta’s Nick Clegg, companies with a strong presence in Ireland. The Taoiseach’s visit to Davos in the past […]
Wealthier households more likely to receive inheritances – Central Bank
Research published by the Central Bank today reveals that over one third of households in Ireland have received an inheritance. The accumulated value of these inheritances is estimated to be worth €97 billion. The findings are published in an Economic Letter from the Central Bank and are based on data from the CSO’s Household Finance […]
‘Whole range of measures’ as part of EV charging plan – Ryan
Minister for Transport Eamon Ryan has said “a whole range of measures” will be rolled out as part of the national strategy for electric vehicle charging infrastructure being launched today. Under the plan, €100m will be invested in a range of public charging infrastructure over the next three years. The target in the now legally […]
Euro zone inflation eases to 9.2% as expected
Euro zone consumer inflation decelerated as expected in December, the European Union’s statistics office Eurostat confirmed today, thanks to a continued fall in energy prices that had earlier lifted it to record highs. Eurostat said prices in the 20 countries sharing the euro fell 0.4% month-on-month for a 9.2% year-on-year rise. The annual reading is […]