The domestic economy grew by around 3.5% in June when compared to the same month last year, according to a new estimate from the Economic and Social Research Institute (ESRI). That compares to estimated Modified Domestic Demand (MDD) growth of 3.1% in May, the ESRI said. “While June saw a further tightening of financial conditions…

New figures from the Central Statistics Office show that wholesale electricity prices fell by 64% in July compared to the same time last year. The CSO said that electricity costs on the wholesale market are now lower than any time during the past two years, adding that the last time that prices were lower than…

The Government has published a plan to boost employment in the construction sector. The ‘Careers in Construction Action Plan’ highlights the need for the construction industry to recruit and retain a higher number of workers than is currently provided for through education, apprenticeships and current retention levels. It sets out a series of actions aimed…

The Minister for Finance has said he anticipates the rate of interest which is paid on savings accounts will increase in the weeks ahead. Michael McGrath said that while these are “commercial decisions for the banks”, he expects to see an increase. “The banks have not fully passed on increases in interest rates to mortgage…

Grocery inflation rose by 12.8% in the 12 weeks to August 6 – the lowest level of growth since November 2022 and the third drop in a row, new figures from Kantar show. Kantar said that take-home grocery sales in Ireland increased by 6.8% in the four weeks to August 6 as the average price…

Ireland is among the most attractive countries for international jobseekers, according to new research from job website Indeed. Just over 11% of searches for jobs in Ireland in June of this year originated from outside the country placing it in 14th place in a list of countries ranked in terms of the proportion of job…

The euro zone economy will keep growing in the coming years and is unlikely to experience a deep or sustained recession, European Central Bank chief economist Philip Lane said today. The economy of the 20-nation bloc sharing the euro has broadly stagnated for the past three quarters as manufacturing is deep in recession. Economists see…

A new survey shows that six in ten people are unaware they can get tax relief on the cost of special foods if they have to restrict their diet as a result of a medical condition, such as Coeliac disease or diabetes. The latest Taxback Taxpayer Sentiment Survey examined awareness of the relief which allows…

Euro zone inflation slower further and even underlying price pressures appear to have peaked, Eurostat data showed today. Today’s figures will ease pressure on the European Central Bank to keep raising rates after its fastest rate-hike cycle on record. The ECB has lifted rates from deep in negative territory to two-decade-highs in just a year…

An estimated 11,500 additional tourism beds will be required here in the next decade if Ireland is to meet projected demand, a new report on the sector has concluded. The report was carried out by economist Jim Power on behalf of the Irish Tourism Industry Confederation. It partly bases its projections on estimates for growth…