Archive for May 2023

Central banks around the world have lost a degree of trust and need to rebuild it by explaining their decision making to a wider audience and not just financial markets, Central Bank Governor Gabriel Makhlouf said. Gabriel Makhlouf is also a governing council member of the European Central Bank. Major central banks have been aggressively…

Euro zone economic growth was 0.1% quarter-on-quarter in the first three months of the year, the EU’s statistics agency confirmed today, with rising employment and a sharp increase in exports that boosted the euro zone trade surplus. Eurostat also confirmed its earlier estimate that gross domestic product in the 20 countries sharing the euro rose…

The number of new vehicles registered in April in the European Union, Britain and the European Free Trade Association (EFTA) grew by 16.1% to 964,932 units The number of new vehicles registered in April in the European Union, Britain and the European Free Trade Association (EFTA) grew by 16.1% to 964,932 units European new car…

Minister for the Environment and Climate Eamon Ryan will request Cabinet approval today for a plan to ensure public sector bodies lead by example on climate, and help reduce Ireland’s emissions by 51% by the year 2030. What is called the “Public Sector Climate Action Mandate 2023” envisages the phasing out of the use of…

Fuel prices have fallen again slightly but are set to increase by six cents per litre for petrol and five cents per litre for diesel on June 1. The latest AA Ireland fuel prices survey for May shows the average petrol price across the state is €1.57, the lowest since September 2021. Diesel prices saw…

One in three homeowners cannot afford to make their properties more energy-efficient, according to a survey by property advisor, Savills Ireland. It also found that most homeowners do not know the Building Energy Rating or BER of their home. According to Savills, the cost of retrofitting a home can easily run into tens of thousands…

Marking five years since the introduction of the General Data Protection Regulation (GDPR), the Irish Council for Civil Liberties (ICCL) has accused the EU of being unable to police how big tech firms handle data. GDPR came into force in May 2018 imposing strict rules on how companies and organisations process data. Because many of…

The rate of increase in advertised rents slowed during the first three months of the year, rising just 1% compared to the previous quarter. Latest data from the property listings website Daft.ie shows average market rent stood at €1,750 per month during the period. The report’s author, economist Dr Ronan Lyons, said the upward pressure…

Activity in the construction sector contracted more sharply in April than in the previous month as the industry continues to struggle. The BNP Paribas Real Estate Ireland Construction PMI found a slowdown in new orders, as well as in employment and input buying. It was the seventh successive reduction in total activity in the sector…

The shortage of housing and a lack of transport options are among a range of barriers preventing young people from finding jobs and entering the labour market, a conference has heard today. The ESRI hosted a conference today on youth employment and highlighted other barriers such as substance use, homelessness, education, mental health and physical…