The unleashing of €13 billion in household savings and significant pent-up demand will lead to a surge in consumer spending that will fuel a 5% growth in core domestic demand this year, new research from stockbroker Goodbody says. In his latest economic forecast, chief economist Dermot O’Leary predicts that domestic demand will fall between January and…

A plan by the main banks here to develop a person to person money transfer app to rival Revolut and N26 has been dealt an early set back, after the competition regulator rejected its application for clearance due to insufficient information. Two weeks ago AIB, Bank of Ireland, KBC Bank Ireland and Permanent TSB applied…

Salaries for in-demand and emerging niche skill sets will increase by up to 5% this year, according to the Morgan McKinley Irish Salary Guide. The new guide shows that most salaries are likely to remain flat throughout 2021. Overall, in 2020, the market for professional talent was split 45% permanent and 55% temporary. According to Morgan McKinley, this…

The Central Bank has forecast that growth in the economy will pick up in the second half of this year, if there is a successful roll-out of the Covid-19 vaccination programme. It also warns, however, that despite the trade deal struck between the EU and the UK, barriers to trade and the movement of people…

Davy has upgraded its growth forecast for the economy for this year on the back of buoyant exports and multinational sector output, especially from the pharmaceutical and information and communications technology sectors. The stockbrokers have pencilled in GDP growth of 4.8% for this year, an increase from its earlier prediction of 3.8%. It is also predicting…

The cost of transporting goods to Britain from Northern Ireland is set to rise as a result of the new post-Brexit regulatory border between the two parts of the United Kingdom, haulage firms said today, with one planning to hike prices by 12%. While Britain left the EU’s single market and customs union on Dec 31,…

Job postings for the final quarter of last year were 23% lower than the same time in 2019, according to figures published by e-recruitment platform IrishJobs. Despite being in the grip of a third wave of Covid-19 cases, the jobs index – which analyses quarterly vacancy data – indicates that Ireland’s employment market is showing positive signs…

Europe is too vulnerable to the global power of the dollar and must ensure the international standing of its euro currency to challenge US dominance, the EU executive has said. The European Commission made its pitch in a plan that sets out ways to help build the power of the euro and chip away at…

Residential property prices rose on an annual basis for the first time in six months in November after disruption from the initial Covid-19 lockdown of the economy halted seven years of unbroken annual growth.  New Central Statistics Office show that residential property prices increased by 0.2% nationally in the year to November – the first…

The volume of cargo passing through Dublin Port in the last three months of 2020 rose by 7.6% as pre-Brexit stockpiling, Christmas trading and a bounce caused by a relaxation of Covid-19 restrictions converted into higher demand for goods.  Across the year as a whole though, the volume of goods handled by the port fell 3.4%,…