The pace of growth in the service sector accelerated in May, new data shows. The latest AIB Purchasing Managers’ Index (PMI) reveals that the index increased from 53.3 in April, to 55 last month. Readings above 50 indicate overall growth in activity. The pace of expansion was the strongest reading since March and broadly in […]
Read More… from Pace of growth in service sector accelerates in May
The European Central Bank (ECB) is expected to agree a quarter of a percent cut in interest rates at its meeting in Frankfurt. It will come after ten interest rate hikes since July 2022. The monthly mortgage payment is generally the most significant household expenditure for homeowners in Ireland. It is a payment that has […]
Read More… from ECB interest rate cut expected, after hikes since 2022
New annual housing targets that will be significantly higher than the current figures are set to be published after the Budget in October. The figures will consider new research from the Economic and Social Research Institute (ESRI) on population and housing demand due to be published this month. It is expected to say that between […]
Read More… from Higher annual housing targets expected after budget
Euro zone business activity expanded at its quickest rate in a year in May as growth in the bloc’s dominant services industry outpaced contraction in manufacturing, according to a private survey, which also showed price pressures easing. HCOB’s composite Purchasing Managers’ Index (PMI) for the currency union, compiled by S&P Global and seen as a […]
Read More… from Euro zone business activity expands at fastest rate in a year, PMI shows
Minister for Housing Darragh O’Brien will seek Government approval to expand the local authority home loan for first-time buyers. The loan is currently only available for homes that are habitable and does not cover renovation costs. The Cabinet is expected to give the green light to a new local authority purchase and renovation loan, which […]
Read More… from Housing Minister to seek approval to expand home loan scheme
The Central Statistics Office is today marking 75 years since it was first established in 1949. The CSO was established to gather, analyse and publish independent statistics and insights about Irish society, economy and environment. It publishes monthly and quarterly figures on many aspects of Irish life, including inflation figures, unemployment figures, residential property prices, […]
Read More… from CSO marks 75 years of counting the Irish economy
The country’s manufacturing sector steadied last month after contracting in April although demand remained subdued, a survey showed today. The AIB S&P Global manufacturing Purchasing Managers’ Index (PMI) stood at 49.8 in May, up from April’s nine-month low of 47.6, and close to the all-important 50 level that marks growth in activity. Respondents to the […]
Read More… from Manufacturing activity stable in May, PMI shows
A new survey from KPMG highlights the challenge retailers and brands face in balancing price competitiveness and quality. Its latest Next Gen Retail Survey found that the majority – 76% – of consumers continue to be influenced by discounts when shopping. Price is the main driver for 56% of customers when it comes to choosing […]
Read More… from Customers cutting costs but still value quality – survey
The Irish economy is expected to continue expanding at a robust pace in the coming years, according to a new report from AIB. However, it states that this growth will be more moderate than the pace of recent years as the economy bounced back from the pandemic. The inaugural AIB Economic Outlook Report forecasts that […]
Read More… from Economic growth set to moderate but remain robust in coming years
The Central Bank made a loss of €132.1m last year, as a result of monetary policy decisions taken across the euro area to bring inflation down. Its Governor said the bank had been expecting and preparing over a number of years for the possibility of making a loss at some point and has reserves of […]
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