Archive for July 2022

Severe price pressures forced the Irish construction sector to contract marginally in June, the first time it has reduced in size since April of last year when the pandemic was still restricting activity. The BNP Paribas Real Estate Ireland Construction Purchasing Managers Index (PMI) found new orders fell at a sharp and accelerated pace. Purchasing…

There is an “absence of trust” amongst farmers in banks, according to the latest report from the Irish Banking Culture Board. The farming community was surveyed as a specific cohort for the first time and registered a -77 trust score, ranking significantly lower than both the general population and SMEs. The report reveals that the…

What’s the Summer Economic Statement? It is a document that sets out the parameters of the forthcoming Budget. That means, in broad terms, how much ‘new’ money will be spent or used to lower tax rates on Budget day. It also shows the total amounts of Government spending planned for budgets out to 2025. And…

New data from hiring platform IrishJobs.ie shows a continued stabilisation in the number of job vacancies across the country. While the Index reveals 15% year-on-year growth in the number of jobs available this quarter, this is a deceleration of growth compared to the year-on-year figure for last quarter of 44%. In addition, quarterly growth is…

The Office of the Director of Corporate Enforcement (ODCE) has now become a statutory and independent agency called the Corporate Enforcement Authority, with additional resources to investigate and prosecute white collar crime. The Government is to increase staffing levels by nearly 50%, including doubling the number of gardaí. The authority’s budget has also been increased…

The Central Bank has warned that inflation could peak in the coming months at over 10% but should start to decline after that. In its latest Quarterly Bulletin, the bank also says household incomes will decline this year but are expected to recover next year with strong wage growth. It also describes the current high…

Business growth across the euro zone slowed further last month, according to a survey in which forward looking indicators suggested the region could slip into decline this quarter as the cost of living crisis keeps consumers wary. S&P Global’s final composite Purchasing Managers’ Index (PMI), seen as a good guide to economic health, fell to…

A stampede for dollars as global recession risks mount has left other currencies battered and bruised, with the euro getting trampled on more than most as surging European gas prices worsen economic growth fears. Analysts predict the single currency, which yesterday hit its weakest since 2002, will soon fall to parity. The euro is seen…

Cost of living increases are impacting parents budgeting for back-to-school expenses, according to a new survey for the Irish League of Credit Unions. Back-to-school expenses are leaving more parents with debt, including credit card debt, according to the findings of the survey of 764 parents. As the cost of living continues to rise in Ireland,…

The euro sank today to its lowest level against the dollar since 2002 as data pointed to a growing recession risk in the euro zone. The euro also dived as investors eyed aggressive interest rate hikes by the US Federal Reserve in its fight against inflation, in contrast with the European Central Bank which plans…