There was a contraction in construction activity for the sixth month running in December, the latest Purchasing Managers’ Index for the sector from BNP Paribas Real Estate Ireland shows. However, there was a slightly softer pace of decline in the final month of the year with the headline figure increasing from 45.1 to 44.5. Any…

Many small and medium sized businesses may struggle to retain existing staff due to upcoming changes to the required salary thresholds for some workers from outside the European Economic Area coming into Ireland on work permits, a leading immigration services provider has warned. Last month the Government announced the largest ever expansion of the employment…

The savings rate among households here has fallen back to pre-pandemic levels, according to the latest figures from the Central Statistics Office. The latest National Accounts data shows that the household savings rate in Ireland fell to 10.08% in the third quarter of last year. That marks a decline from 11.05% in the second quarter…

Varying regulation across the EU is the top challenge for businesses trading across borders, new research shows. The latest survey by Eurochambres, of which Chambers Ireland is a member, reveals the issues companies face when trading within the EU single market. 70% of those surveyed cited the difference in legal practices and contractual arrangements as…

Some relief may be in store for Irish households and businesses when it comes to energy costs, with one analyst predicting the short-term power market price in Ireland could fall by over 18% this year. Cornwall Insight said higher than anticipated gas storage levels in the EU have reduced concerns that there could be shortages…

Consumers are more optimistic about the outlook for the economy than was the case a year ago, according to the latest Reflecting Ireland survey from PTSB. Less than half of respondents – 47% – believe the economy will get worse over the coming year. That compares to 63% a year ago, and is down slightly…

The average interest rate on a new mortgage in Ireland fell slightly again in November, new figures from the Central Bank show. The rate dropped from 4.27% in October, to 4.25% in November. This means that Ireland had the tenth lowest rate in the euro zone. The lowest rate was in Malta at 1.93%, while…

The value of Ireland’s food, drink and horticulture exports declined by 4% last year to reach €16.3 billion, following a record breaking year in 2022 when exports grew by 22%. Bord Bia’s Export Performance and Prospects report shows that exports were impacted by inflation and the cost of living crisis which affected consumer spending. There…

Housing supply is unlikely to improve in the coming months, a new report from estate agent Lisney suggests. However, it states that more rental homes will become available to buy as private landlords exit the market. The report reveals that probate office delays are causing uncertainty for buyers, with a grant of probate now taking…

Mortgage switching activity dropped 75% last November when compared to the same time the previous year, new figures show. The latest report from Banking and Payments Federation Ireland (BPFI) shows that just 355 mortgages were approved for this group during the month, down from 1,419 in November 2022. Overall, there has been a slowdown in…