Archive for January 2020

Stockbrokers Davy have revised upwards their GDP growth forecast for 2020 to 5.5% from 4.1% previously. Davy said the upgrade came on the back of strong foreign direct investment, expansion in the multinational sector and an exceptional export performance. The new forecasts puts Davy well above official projections including the Central Bank’s estimate of 4.3%…

The Economic and Social Research Institute has found that mortgage holders can get a better deal when they read independent advice.  However, the think tank also found some serious misunderstandings about how mortgages work.  The ESRI and the Competition and Consumer Protection Commission brought together a sample of 110 people with mortgages and gave them…

Internet and social media services could in future be blocked for not complying with online safety rules, if draft new legislation published by the Government today comes into force. Under the proposed new laws, internet companies will be legally obliged to comply with new online safety codes. If the legislation is passed by the Oireachtas,…

New figures from the Central Statistics Office show that annual growth in retail sales volumes slowed to 1.4% in November from growth of almost 4% in the previous two months.  Retail sales volumes were 3.3% lower in November than October, today’s figures showed, with sales of medical and cosmetic goods and food, beverages and tobacco…

The National Treasury Management Agency said it will hold one bond auction in the first quarter of the year on March 12. The NTMA covered around a third of its funding target for 2020 with a syndicated sale yesterday. It kicked off its funding drive by raising €4 billion via a new 15-year bond sale…

The number of people signing on the Live Register is at the lowest level since January 2008, new figures from the Central Statistics Office show.  The CSO said the Live Register total recorded a monthly decrease of 1,100 in December, which brought the seasonally adjusted total to 185,300.  In unadjusted terms, a total of 181,996…

Businesses are being advised to put a number of preparatory steps in place to deal with the financial and cashflow implications of Brexit. Britain is scheduled to leave the EU at the end of this month when an eleven month transition period begins. The Banking and Payments Federation has produced a useful checklist of essential…

The National Treasury Management Agency has today started the syndicated sale of a new 2035 bond that a market source said could raise around €3 billion.  The NTMA has kicked off its funding drive with a syndicated sale every year since 2013. It could cover around a quarter of its funding needs for this year…

The unemployment rate remained unchanged at 4.8% in December to stay at the lowest level in almost 13 years, new figures from the Central Statistics Office show.  The jobless figure has been steady at 4.8% for three months in a row. Today’s CSO figures show that the seasonally adjusted number of people who were unemployed…

Euro zone business activity remained close to stagnation at the end of last year, a survey showed today, as an upturn in services activity only partially offset a continued decline in the bloc’s manufacturing industry.  IHS Markit’s final euro zone composite Purchasing Managers’ Index (PMI), seen as a good indicator of economic health, nudged up…