Euro zone inflation accelerated more than expected in October and could still pick up further in the coming months, bolstering the case for caution in European Central Bank interest rate cuts as price growth is not yet fully tamed. Inflation in the 20 countries sharing the euro currency accelerated to 2% from 1.7% in September […]
Read More… from Euro zone inflation rebounds more than expected in October to 2%
International visitors are spending less time in Ireland, but more money. New figures from the Irish Tourism Industry Confederation (ITIC) show that the length of overnight stays between July and September fell 7%, when compared to the same time last year. However, revenue was up 10% with visitors spending €2.14 billion. Nearly 2 million international […]
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Ireland’s infrastructure is lagging 25% behind that of high-income European economies, according to the Irish Fiscal Advisory Council. In a new report the spending watchdog said housing, health, transport and electricity all require investment. The fiscal council estimated 68,500 homes need to be built a year to catch up and meet a growing population. That […]
Read More… from Irish infrastructure lagging behind EU counterparts – IFAC
Almost three quarters of Irish businesses have reported an increase in cyberattacks in the past year, according to new research. The Hiscox Cyber Readiness Report shows that Irish companies have experienced an average of 58 cyberattacks over the last 12 months. Almost half of businesses surveyed said they had suffered reputational damage due to the […]
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The Government is establishing a pilot scheme for reimbursing apartment owners who fix Celtic Tiger era defective properties at their own expense. Two years ago the total cost for repairing the homes was estimated at €1.5 billion to €2.5 billion. The total number of properties affected is up to 100,000, according to the working group […]
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Euro zone inflation is “well on track” to hit the European Central Bank’s 2% target next year, ECB President Christine Lagarde said today, repeating the bank’s most recent guidance. “The incoming information on inflation shows that the disinflation process is well on track,” Lagarde said at the International Monetary Fund’s annual meeting in Washington. “Recent […]
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Strong demand from first-time buyers (FTB) and switching activity drove an increase in both the volume and value of mortgage drawdowns in the third quarter. A total of 11,774 new mortgages worth €3.4bn were drawn down by borrowers during the period, according to the latest figures from the Banking and Payments Federation Ireland (BPFI). In […]
Read More… from First time buyers and switchers drive increase in Q3 mortgage drawdowns
There was a “small bounce” in consumer sentiment in October, but little sense that consumers think Budget 2025 will dramatically improve the outlook for their household finances. That is according to the latest Credit Union Consumer Sentiment Index. The survey, conducted in partnership with Core Research, shows an index reading of 74.1 for October, marking […]
The average premium paid by consumers for motor insurance in Ireland last year rose 2% to €568, the first increase in five years. It comes as the cost of a claim per policy rose by 5% in 2023 to €369, bringing it back near pre-Covid levels in 2019. Of that figure, the cost per policy […]
Read More… from Motor insurance premiums rose 2% last year – Central Bank
More moderate growth is expected in the coming years as the economy and labour market reach full capacity, according to AIB’s Economic Outlook. It forecasts modified domestic demand (MDD) to grow by 2.8% next year and 2.7% in 2026. The report finds that, following a fall in GDP in 2023 due to a downturn in […]
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