Posts by sean
Irish exports to US jump by 81% in January – CSO
There was an 81% surge in Irish exports to the US in January compared with the same month a year earlier, according to the Central Statistics Office. Total medical and pharmaceutical products sold abroad grew by 68%, today’s CSO figures show. There have been anecdotal indications that some companies could be stockpiling goods in the…
Read MoreSafe-haven gold rises above $3,000 for the first time
Gold pierced through the psychological milestone of $3,000 an ounce today for the first time, building on an historic rally as trade tensions and US rate cut bets supercharge its appeal as a safe store of value. Spot gold was up 0.3% at $2,997.75 an ounce in mid-morning trade after hitting a record high of…
Read MoreMinister to travel to US for negotiations on tariffs
Minister for Agriculture Martin Heydon has said he will lead a “full trade mission to the United States” next month. It comes after US President Donald Trump increased tariffs on certain EU goods and threatened further action. Mr Trump threatened to impose a 200% tariff on wine, cognac and other alcohol imports from Europe, after…
Read MoreEuro zone banks must get into habit of tapping ECB for cash, ECB argues
Euro zone banks need to get into the habit of tapping the European Central Banks for cash, preparing for the continued decline in excess liquidity in the banking system, two top ECB officials said in a blog post today. Banks still sit on almost €3 trillion of excess liquidity, created by the ECB over the…
Read MoreAI expected to add €250 billion to Ireland’s economy by 2035 – report
A new report by Microsoft and Trinity College Dublin is projecting that the adoption of artificial intelligence (AI) could add €250 billion to Ireland’s economy, as measured by GDP, within 10 years. The AI Economy in Ireland 2025 report found that AI adoption is expected to increase Ireland’s Gross National Income (GNI) by at least…
Read MoreAnnual inflation eases to 1.8% in February – CSO
New figures from the Central Statistics Office shows that inflation eased to an annual rate of 1.8% in February from a rate of 1.9% in January. Today’s figures show that prices in restaurants and hotels rose by 3.1% mainly due to higher prices for alcoholic drinks and food consumed in licensed premises, restaurants and cafes,…
Read MoreOverall card spend in February up 10% on last year
The latest AIB Spend Trend report shows that Storm Éowyn led to an exceptionally quiet day for spending on Friday 24 January. AIB said the number of in-store transactions was down 38% compared with an average day. But after the storm, spending in hardware stores was up 8% in February, with significant increases seen in…
Read MoreNumber of apartments granted planning permission down 39% last year – CSO
New figures from the CSO show that the number of planning permissions granted for apartments fell by almost 39% last year when compared to 2023. The data from the Central Statistics Office shows approvals for houses was down 2.7% last year. The total number of new homes approved annually fell by 21.4% in 2024 compared…
Read MoreIrish mortgage rates edge higher in January despite ECB cuts
New figures from the Central Bank show that the average interest rate on new Irish mortgages rose to 3.82% in January from 3.8% in December despite recent rate cuts from the European Central Bank. The Central Bank said that Ireland has the fifth highest average mortgage rates in the euro zone as the euro average…
Read MoreEU to impose counter tariffs on €26bn worth of US goods
The European Union will impose counter tariffs on €26 billion ($28bn) worth of US goods from next month, the European Commission said, ramping up a global trade war in response to blanket US tariffs on steel and aluminium. US President Donald Trump’s increased tariffs of 25% on all steel and aluminium imports have taken effect…
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