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New car registrations for last month dropped 72.3% when compared to May 2019, according to the latest figures from the Society of the Irish Motor Industry.  1,751 new cars were registered last month, compared to 6,320 in May 2019. The figures reveal that Covid-19 has heavily impacted on sales, with retailer’s showrooms remaining closed until the 18th of…

Take-home grocery sales experienced the fastest rate of growth in 15 years over the past 12 weeks, jumping by a quarter, according to new data from Kantar. But the boost in take-home purchases was offset somewhat by reduced outlays by consumers on on-the-go meals, drinks and snacks. “The jump in grocery sales over the most…

Just under half a million workers have had their pay subsidised under the government’s Temporary Wage Subsidy scheme at a total cost of €1.244 billion, according to the latest figures from the Revenue Commissioners.  Over 57,200 employers have now registered for the scheme, of whom over 50,500 have already received subsidy payments. According to the…

An assessment of consumer spending on food outside the home, such as in restaurants, has found that the sector could fall in value by as much as €5 billion this year as a result of Covid-19.   Bord Bia, the Irish Food Board, has published a paper which sets out the best and worst case…

The European Commission has proposed a recovery fund of €750 billion, which it says is designed to repair the economic damage caused by the coronavirus pandemic. According to European Commission President Ursula von der Leyen, the money would be disbursed via grants and loans, with the commission using the EU budget as leverage to raise…

New figures from the Central Bank show that the total value of card transactions (including ATM transactions) decreased by 35% in April – the biggest annual decline recorded since the series began.  Today’s figures are the Central Bank’s first statistics to capture a full month of data where the Covid-19 emergency containment measures were in…

Fraudsters may have accessed thousands of taxpayers’ Revenue accounts using information provided by them unwittingly. Revenue has written to around 3,000 taxpayers advising them that their myAccount may have been accessed as part of a scam which was sent via text message. Revenue’s Chief Information Officer, John Barron, explained that Revenue constantly monitors for suspect…

Minister for Employment Affairs and Social Protection Regina Doherty has told the Dáil she will bring forward proposals for some changes to the Covid-19 Pandemic Unemployment Payment within the next week or so. She said that the Government is reviewing the nature of the payment. Ms Doherty reiterated that the Pandemic Unemployment Payment and the…

Bank customers who require a break from repaying their mortgages or loans because of the impact the Covid-19 crisis is having on their finances will have to apply for one by 30 June, the Banking and Payments Federation Ireland has said. The BPFI said the deadline has been set by the European Banking Authority. As…

New figures from the Central Statistics Office show “an unprecedented collapse” in overseas travel to and from Ireland in April as the effects of the Covid-19 crisis deepened.  The CSO reported just 16,100 arrivals in April and 17,800 departures. This compares with monthly travel of more than 1.7 million in each direction the same time…