Archive for June 2024

Irish household savings rose by €1.1 billion in May when compared to April, according to data published by the European Central Bank. The increase comes on the back of a €140m dip in savings levels in April, and brings total household deposits to €155.6 billion. “The really important piece of context here which makes all…

New figures from Banking and Payments Federation Ireland show there was a fall in the number of mortgages approved by Ireland’s main banks in May compared to the same time last year. That was driven by a more than 10% fall in approvals for first time buyers, although BPFI said that was in part due…

The consumer mood improved this month, according to the latest Credit Union Consumer Sentiment Survey, on the back of lower fuel costs and an ECB rate cut. The latest index shows that after months of weak data, the pick up in June has been big enough to undo half of the declines that had been…

New figures from estate agent Sherry FitzGerald show that the average value of second-hand homes in Ireland saw a 1.8% increase in the second quarter of 2023. Sherry FitzGerald said this contributed to an overall 5.5% increase over the past 12 months, an increase from the 3.4% annual growth rate recorded the same time last…

The number of insolvencies here was 25% higher in the first six months of the year than it was in the same period of 2023, according to two new reports. However, when compared to the first three months of the year, the number of insolvencies between April and June is down 15%. According to data…

Workers in Ireland should see their incomes rise in real terms both this year and next, due to falling inflation and ongoing increases in wages. The Economic and Social Research Institute is forecasting that on average earnings should rise by more than 4% this year and closer to 5% next year. But this will be…

14% of companies are using artificial intelligence to evaluate job applications, new data shows. This includes scanning CVs or scoring job candidates to help filter and identify the most suitable candidates based on the job description. The research carried out by recruitment firm Hays Ireland shows that 80% of candidates want to be informed when…

Minister for Finance Michael McGrath has been nominated as Ireland’s next European Commissioner. The move was agreed by Government party leaders last night before being formally approved by a meeting of the Cabinet this morning, when Taoiseach Simon Harris presented the nomination to the Government. Mr McGrath has thanked his Cabinet colleagues, saying it was…

The new Minister of Finance Jack Chambers will be formally appointed this afternoon. The Dublin West TD will succeed Michael McGrath, who has been nominated as Ireland’s next European Commissioner. The elevation of Mr Chambers to one of the top posts in Government will take place in the Dáil later. After a vote, he will…

New figures from Kantar show that grocery inflation stood at 2.5% in the 12 weeks to June 9 – the lowest level of grocery inflation since March 2022 and down from 2.6% in May. Kantar said the slowing inflation rate offers shoppers something of a lifeline in terms of lower prices, but consumers remain on…