News

Euro zone inflation surged well past expectations last month, driven by rising energy costs and a German tax increase, posing a potential communications challenge for the European Central Bank.  Inflation has undershot the ECB’s nearly 2% target for most of the past decade.  The ECB has promised ultra-easy policy for years to come, with price […]

The country’s services sector contracted last month at the sharpest rate since the economy was emerging from an initial Covid-19 lockdown last May after the Government imposed its toughest restrictions in nine months.  Most building sites, shops and the hospitality sector was closed from late December after a four-week reopening led to a huge surge […]

The euro zone economy contracted less than expected in the fourth quarter of 2020 amid pandemic-induced lockdowns, initial EU estimates showed today. But the euro zone may be heading for another, probably steeper decline in the first quarter of this year.  The European Union’s statistics office Eurostat said that according to its preliminary flash estimate, […]

Household savings continue to rise and debt levels continue to fall, according to the latest figures from the Central Bank.  The Central Bank’s quarterly financial accounts show that gross household savings rose by €570m between July and September to a total of €6.4 billion.   Household net worth, which captures the value of deposits and […]

Almost 480,000 people will receive the Pandemic Unemployment Payment this week, an increase of 4,269 or less that 1%, according to the latest figures from the Department of Social Protection. The rate of increase in claims is slower than last week’s rise of 3% – though the claims figure is still well below the peak […]

Minister for Transport, Environment and Climate Eamon Ryan will today seek Cabinet approval to introduce legislation to ban oil and gas exploration. Mr Ryan is aiming to add a provision to the Climate Action Bill to advance this change. The ending of oil and gas exploration and extraction is a commitment in the Programme for […]

Consumer experts have warned online shoppers they should not be duped by fake ‘.ie’ websites, or they could face additional taxes and duties on what they buy. This comes post-Brexit and a month after the EU-UK withdrawal agreement became operational.  The European Consumer Centre (ECC) says people need to be aware whether the online shops they are buying from […]

A month after the end of the Brexit transition period, authorities say the volume of goods coming into Irish ports from the UK remains at around 50% of normal.  However, the quantities of freight are continuing to gradually build week-on-week, state agencies report, with an 11% increase in movements last week compared to the previous […]

The pace of growth in the manufacturing sector slowed sharply to a three-month low in January as Britain’s exit from the European Union’s trading orbit combined with Covid-19 restrictions hit output and new orders.  The AIB IHS Markit manufacturing Purchasing Managers’ Index (PMI) dropped to 51.8 from 57.2 in December. While the index was still higher […]

A new €55m fund to assist tourism businesses that have been impacted by the Covid-19 pandemic is to be launched later today. The Tourism Business Continuity Scheme, announced by Minister Catherine Martin in last October’s Budget and administered by Fáilte Ireland, will see firms receive grants of up to €200,000. It will provide support to […]