The downturn in euro zone business activity accelerated last month as demand in the dominant services industry weakened further, a survey showed today, suggesting there is a growing chance of a recession in the 20-country currency union. The economy contracted 0.1% in the third quarter, official data has shown, and today’s final Composite Purchasing Managers’…

Competitiveness and the cost of doing business in Ireland are among the top issues for the manufacturing sector, new data shows. However, the report by business group Ibec reveals that manufacturers are cautiously more optimistic about the business environment compared to last year. 67% of businesses surveyed said attracting and retaining talent was a major…

The Irish entertainment and media industry is to grow by an annual compound rate of 3.6% between now and 2027, a new report from PwC has predicted. That would see it valued at over €6.1 billion, up from €5.1 billion last year. PwC says the growth is largely due to increasing internet access – particularly…

The Exchequer recorded a deficit of €900m at the end of October, the latest figures from the Department of Finance show. The Exchequer returns, published this afternoon, also show a drop in corporation tax for the third month in a row. Corporation tax was just over €1bn lower, or 45% less, last month than the…

The value of output from agriculture this year will be down 8% compared to 2022, according to the Central Statistics Office. The CSO says the decrease is mainly due to a drop in milk prices paid to farmers of 28%. The decrease masks estimated increases in prices paid to farmers in some sectors, with pig…

The rate of expansion in the country’s services sector slowed for the sixth month in a row in October with a survey today showing it at the second-weakest level of the current 32-month upturn. The AIB Global S&P Purchasing Managers’ Index (PMI) fell to 52.6 from 54.5 in September. The index has stayed above the…

New figures from the Central Statistics Office show that the number of people unemployed rose marginally in October. When adjusted for seasonal factors, the unemployment rate moved up to 4.8% in October from 4.7% in September. This compares to a rate of 4.5% in October last year. Today’s CSO figures show that the seasonally adjusted…

The lack of skilled trades people could affect growth in the economy, according to the latest SME Monitor by Banking and Payments Federation Ireland. Construction firms have reported challenges in hiring suitably trained and skilled staff, with small and medium-sized enterprises particularly affected. A recent report published by Chambers Ireland shows that over 95% of…

The Central Bank has launched an information campaign to help consumers avoid personal finance scams. It said fraudsters are using increasingly sophisticated methods which calls for an increased level of awareness among the public. The scams take different forms including fake loan providers, ‘clones’ of well-known personal finance service providers like banks and fake investments…

Two thirds of adults in Ireland think the banking sector lacks competition, new research has found. While almost three quarters agree that the process of opening a new bank account is difficult. The survey, carried out among 1,000 adults in Ireland by Censuswide on behalf of fintech Wise, also found that just over half trust…