Prices paid by Irish consumers were the second highest in the EU last year, according to new official data. Irish prices were 42% higher than the EU average, according to Eurostat, just behind the 43% recorded in Denmark. Lowest price levels were registered in Bulgaria and Romania, the price comparison survey shows. The data also […]
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6.3 million foreign visitors came to Ireland last year – CSO
New figures from the Central Statistics Office show that 6.3 million foreign visitors departed Ireland on overseas routes in 2023. Overall, the visitors spent €7.3 billion on their trips. Of this €1.9 billion was spent on fares, €0.3 billion on prepayments – including car hire, pre-booked tickets and other non-accommodation items paid for in advance […]
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NAMA on track to wind down by the end of 2025
The National Asset Management Agency remains on track to wind down completely by the end of next year. But the Minister for Finance Michael McGrath has confirmed that “some residual assets will remain unresolved” after the end of 2025, and that he will be proposing a new bill to ensure the NTMA manages these assets […]
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Retailers urged to prepare now for online Christmas shopping – An Post
Is it too early for Irish retailers to start preparing for Christmas? Not according to An Post. It has published its first eCommerce Index which shows that 95% of adults shopped online illustrating the potential for businesses to bolster and expand their ecommerce offering. The period from October to December, is known as the peak […]
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Oil prices stable as demand uncertainty persists
Oil prices were stable today, as traders awaited signs of a hoped-for summer demand boost to prop up prices even as strong supply threatens to blunt gains. Benchmark Brent crude futures were down two cents to $84.23 per barrel this afternoon after climbing in the previous session. US West Texas Intermediate crude futures which also […]
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Dublin fourth most expensive city in Europe to build – survey
Dublin is the fourth most expensive city in Europe to build, a new survey shows today, while it also makes it into the top 25 most expensive places to build globally. The International Construction Market Survey 2024 Report, from global professional services company Turner & Townsend, shows that Switzerland remains the most expensive country to […]
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ECB set to cut rates in September and December – poll
The European Central Bank will cut its deposit rate twice more this year, in September and December, according to a significant majority of economists polled by Reuters who said the risks were skewed towards fewer rate cuts than expected. That outlook was broadly unchanged from a survey conducted before the ECB delivered its widely telegraphed […]
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Central Bank lowers growth forecast for domestic economy
The Central Bank has reduced its forecasts for economic growth this year. In its latest Quarterly Bulletin, the bank predicts that Modified Domestic Demand will expand by 2.1% in 2024, down from its forecast in March of 2.2%. It has also cut its forecast for Gross Domestic Product to 1.8%, down from its previous projection […]
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ECB’s Lane confident euro zone inflation will hit 2% in 2025
The European Central Bank’s chief economist said today he remained confident inflation will fall back to the ECB’s 2% target in 2025 after four years of unusually brisk price growth following the Covid pandemic and Russia’s invasion of Ukraine. In a Reuters NEXT Newsmaker interview, Philip Lane also played down the need for the ECB […]
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IMF calls for stronger social safety net to ‘broaden’ gains from AI
Fiscal policy has a “major role to play” in broadening the financial gains from generative AI technology and preventing a spike in wealth inequality, the IMF today. Left unchecked, generative artificial intelligence (AI) threatens to amplify job losses among white collar professions, International Monetary Fund staff wrote in a new paper. The technology forms the […]
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