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Personal loan drawdowns jump by 20% – BPFI

The value of personal loan drawdowns increased by 20.1% in the second quarter of this year to €414 million, compared to the second quarter of last year. The report on personal loans by Banking & Payments Federation Ireland shows continued strong growth in activity, the most since the data series began in 2020. On an […]

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ECB’s Schnabel says inflation outlook hasn’t improved

The euro zone inflation outlook has failed to improve since a July rate hike, European Central Bank board member Isabel Schnabel said, suggesting she favours another large interest rate increase next month even as recession risks harden. The central bank for the 19-country bloc surprised investors with a 50-basis-point rate hike last month fearing that […]

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Turnover of Irish multinationals down 7% to €238bn in 2020

The turnover of Irish-owned multinationals reached €238bn in 2020, down 7% when compared to the previous year. New figures from the Central Statistics Office (CSO) show the US generated more than 39% of such turnover, while almost 17% was generated from the UK. Irish-owned foreign affiliates employed more than 1.2 million people in 2020, up […]

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Sharp decline in Irish construction activity in July

New data indicates an accelerated decline in Irish construction activity in July, as demand fell sharply amid strong inflationary pressures. In turn, firms scaled back their purchasing activity and took a cautious approach to hiring, according to the latest BNP Paribas Real Estate Ireland Construction PMI. It shows companies were pessimistic towards the 12-month outlook […]

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Oil reverses losses, demand concerns persist

Oil prices rose by about 1% on Tuesday, erasing earlier losses, as the market awaited clarity on talks to revive a deal that could allow more Iranian oil exports, and bleak economic data from top crude buyer China limited gains. Brent crude futures rose 72 cents, or 0.8%, to $95.82 a barrel by 1219 GMT, […]

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Inflation, staff shortages top concerns for Irish firms

Inflation and the shortage of talent are the two biggest concerns facing Irish businesses in the coming year, according to a new survey of executives here. Research by business law firm Mason Hayes & Curran and the Irish Management Institute found that 85% of firms see higher costs as having the greatest impact on their […]

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Car traffic volumes in July still below pre-Covid levels

Public transport journeys and car traffic volumes in July were still below pre-pandemic levels. New data from the Central Statistics Office (CSO) show that public transport journeys in the week beginning 25 July 2022 were 80% of the number taken in the first week of March 2020. Bus journeys in Dublin were 78% of pre-Covid […]

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Inflation remains at 38-year high of 9.1% in July – CSO

Consumer prices rose by 9.1% in the year to July, the same level of inflation as in June, the latest Central Statistics Office figures show today. This marked the first time since the start of the year that price growth has not accelerated on a year-on-year basis, the CSO figures show. Inflation is standing at […]

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Value of services increased in June – CSO

The value of services increased by 2% in June when compared to the previous month, according to new figures from the Central Statistics Office (CSO). The biggest monthly increases were recorded in the value of information and communication services, and accommodation and food services. Decreases were recorded in transportation and storage, other service activities, and […]

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Rising costs put consumers off sustainable goods – EY

More than two thirds of consumers are being put off buying sustainable goods due to the rising cost of living, according to a report by EY. Its survey of 18,000 global consumers found that nearly 80% were concerned about their finances, while more than 60% expected their living costs to rise further in the coming […]

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