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Retail sales volumes increased by 3.7% on an annual basis in January, new figures from the Central Statistics Office show.  But retail sales were down 3.4% on a monthly basis following strong sales in December that last year included the “Black Friday” deals period. The CSO said that when volatile car sales are excluded, the…

European shares steadied in opening trade this morning after their worst weekly showing since the 2008 financial crisis. Shares were higher on rising hopes that major central banks will step in to counter the impact of the coronavirus epidemic on global growth.  The pan-European STOXX 600 index rose 1.8% after a 12% slump last week,…

European shares sank between 2% and 3% this morning as investors feared a global recession is on the horizon with the coronavirus spreading across the world. Four more countries – including Northern Ireland – reported their first cases of coronavirus, pushing the number of countries outside China, the source of the outbreak with infections, to 55.  The…

While Ireland’s stock of sovereign debt is still high, the risk it presents to the country’s economic future is now low due to a lower interest bill, better government finances and higher credit ratings. This is according to the chief executive of the National Treasury Management Agency.  “I would caution that we are still not…

Lending to euro zone companies held at a two-year low last month despite lending to households hitting yet another post-crisis high, European Central Bank data showed today.  Today’s new figures highlighted a growing divergence in the bloc’s economy.  Struggling under the weight of a global trade war and a manufacturing recession euro zone exporters have…

The European Commission has claimed that “Ireland’s tax rules are used for aggressive tax planning”. The claim is made in a report on the Irish economy published today. The report is part of a package of reports on all member state economies regularly produced by the Commission. The Commission makes specific reference to withholding taxes,…

Irish consumers pay the second highest prices in Europe, according to new figures from the Central Statistics Office.  The country also has the highest proportion across the EU of graduates in the so-called STEM subjects of mathematics, science and technology.  The Measuring Ireland’s Progress report for 2018, published by the CSO, paints a picture of…

Consumer sentiment remained subdued in February as concerns over household finances largely cancelled out optimism around the economy in general, a new survey shows today. Ireland has remained the European Union’s fastest growing economy during three years of Brexit talks. But today’s survey shows that many consumers are not seeing an improvement to their financial…

Average earnings in the economy rose by 3.5% last year, according to the latest figures from the Central Statistics Office. The highest earnings were in the Information and Communication sector while the lowest earnings were in the Accommodation and Food Services sector.  Today’s CSO figures show that in the last three months of last year,…

600 delegates are attending the Enterprise Ireland Start-Up Showcase today in Croke Park. Enterprise Ireland, the government agency responsible for the development and growth of Irish companies in global markets, invested a total of €24m in Irish start-ups in 2019 and supported a total of 127 start-up companies. The investments were provided through Enterprise Ireland’s…