The latest figures from the Society of the Irish Motor Industry show that new car registrations for October were down 16.8% to 2,178 when compared when the figure of 2,617 the same time last year. But SIMI said that registrations year to date are up 15.6% to 120,495 from 104,204 the same time last year….
Inflation in the euro zone hit a two-year low a month after its economy began contracting, data showed today, illustrating the dual impact of a steady diet of European Central Bank’s interest rate hikes. Euro zone consumer prices rose by just 2.9% in October, their slowest pace since July 2021, a Eurostat flash reading showed,…
A number of energy suppliers are set to cut charges for electricity and gas from today. Nearly two million customers will benefit from cuts in unit prices and standing charges. The reductions come ahead of the application of the first Government electricity credit in December. More than 1.1 million Electric Ireland customers will see the…
Business conditions in the manufacturing sector continued to weaken in October, new figures show. The latest Purchasing Managers Index from AIB reveals that activity weakened to the greatest extent in three months, driven by a fall in new orders and output. The index dropped to 48.2 from 49.6 in September, and 50.8 in August. Readings…
There has been a significant slowing in the estimated annual rate of inflation in October. According to the latest “flash” estimate of inflation from the Central Statistics Office, the annual rate in October slowed to 3.6%. The last time the annual rate of inflation was lower than this was back in August 2021, just before…
It has certainly been a busy eighteen months for the Monetary Policy Committee of the European Central Bank. Having spent several years repeating pretty much the same script, meeting after meeting, about leaving rates unchanged at their historically low levels, the inflationary backdrop prompted a change in course last year. And it was a course…
Consumer sentiment has improved slightly this month, boosted by the measures announced in Budget 2024. The latest Credit Union Consumer Sentiment Index registered a pick up in the public’s mood, following weakness in recent months. The index stood at 60.4 in the month, compared to 58.8 in September. However that still leaves it below the…
The European Central Bank left interest rates unchanged as expected today, snapping an unprecedented streak of ten consecutive rate hikes, and maintained its guidance which signals steady policy ahead. The ECB has lifted rates by a combined 4.5 percentage points since July 2022 to combat runaway price growth but hinted last month that it would…
New guidance for Irish influencers on how to clearly label ads on social media has been issued by the Competition and Consumer Protection Commission (CCPC) and the Advertising Standards Authority for Ireland (ASAI). The advice comes as consumer agencies across the EU, including the CCPC, begin a coordinated sweep of influencer accounts to assess their…
Mortgage drawdowns were down almost 22% between July and September when compared to the same period last year. New figures from Banking and Payments Federation Ireland show that just over 11,600 mortgages were drawn down during the three month period, valued at over €3.1 billion. The fall is drawdowns was driven by an 81% drop…