Business News
Central Bank slightly reduces estimates for economic growth this year The Central Bank has slightly reduced its estimates for economic growth this year, amidst an ongoing weakening of the international trading and economic environment. In its latest Quarterly Bulletin, the Central Bank expects GDP growth of 4.2% this year, down 0.2% since its January forecast. […]
Read MoreExchequer ahead of target in March as income tax, VAT improves Exchequer returns for March have come in ahead of forecast; as income tax, VAT and Corporation Tax take were all higher than expected. Almost €4.69 billion was taken in by the State during the month, €207m (4.6%) above target and €550 (13.3%) higher than […]
Read MoreEuro zone retail sales stronger than expected in February Euro zone retail sales, an indication of domestic demand, were stronger than expected in February, led by a jump in sales of non-food products, data showed today. The European Union’s statistics office Eurostat said retail sales in the 19 countries sharing the euro rose 0.4% month-on-month […]
Read MoreJobless rate falls to 11 year low of 5.4% in March New figures from the Central Statistics Office show that the unemployment rate fell to an 11-year low of 5.4% in March from a rate of 5.6% in February. The CSO said the seasonally adjusted number of people who were unemployed stood at 131,300 in […]
Read MoreAIB to sell €1 billion non-performing loan portfolio AIB has agreed a deal to sell a €1 billion portfolio of non-performing loans to Everyday Finance, as part of a consortium with Everyday and affiliates of Cerberus Capital Management. The portfolio consists of about 2,200 non performing loans, with around 95% over two years in arrears […]
Read MoreEuro zone inflation slows to 1.4% in March Inflation in the euro zone slowed in March, data showed today, amid worries that the European economy is cooling. The slowdown of inflation comes as signs are multiplying of slower economic growth, especially in powerhouse Germany and the bloc’s second-biggest economy, France. The rise in consumer prices […]
Read MoreNew car registrations slow down by 5.6% in March – SIMI New figures published today show that total new car registrations fell by 5.6% to 16,738 in March compared to the same time last year. The Society of the Irish Motor Industry (SIMI) figures show that new car registrations for the year to date are […]
Read MoreEnergy bills going up for 1 million customers Over 1 million energy customers will feel the impact of larger bills from today. Electric Ireland and PrePayPower are increasing their gas and electricity prices by 4% and 3.9% respectively, having frozen them over the winter months. The increase will add around €38 a year to the […]
Read MoreManufacturing growth holds steady as Brexit boosts inventories – PMI Manufacturing activity grew at an almost identical rate in March compared to a month earlier, as further stockpiling ahead of Brexit mostly offset a dip in the level of output growth, a new survey shows. AIB’s manufacturing purchasing managers’ index stood at 53.9 in March, […]
Read MoreIrish shipping industry booming amid Brexit fears The Irish shipping industry has seen a marked increase in business as companies bypass British ports amid Brexit fears. Irish ports have been forced to adapt quickly and increase capacity for direct sailings to continental EU ports as manufacturers increasingly see Irish ports like Dublin and Rosslare as […]
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