A Spanish banking giant is to enter the Irish mortgage market in a move sure to put massive pressure on existing lenders to slash their rates. The move came as Permanent TSB cut its variable and fixed rates, and performed a U-turn by making the rates available to existing customers, not just new borrowers. Mortgage…
Customers rushing back into shops as the lockdown eased in June lifted the value of retail sales back to pre-Covid 19 levels. Retail sales rose by a record 38.4pc in June compared to May, according to the Central Statistics Office (CSO). More strikingly, on an annual basis retail volumes were 3.5pc higher in June 2020,…
Revolut’s recent data on the economy shows an interesting trend in consumer spend on direct services. Re-opening of the economy Ireland is on Phase 3 in terms of re-opening the economy. As it allowed more businesses to resume operations, the demand for direct services went up. As a result, owners of personal grooming shops and…
One of the challenges we face in growing our economy is the limited size of our domestic market. Ireland’s entry into the then EEC in 1973, and subsequent adoption of the euro in 2002, opened the door to a large and developed marketplace. As the EU has progressed and expanded the four freedoms – goods,…
HOUSING Minister Darragh O’Brien has signalled that couples who have a gross combined income of more than €75,000 will be eligible for a new affordable homes scheme. He also told the Dáil that he intends the guide price for such housing to be between €160,000 and €260,000 as he clashed with Sinn Féin’s Eoin Ó…
HOUSEHOLD savings have hit their highest level since the last financial crisis. People spent less in the first three months of the year which meant that they put more money aside. The savings level was higher than any time in the last six years, the Central Statistics Office (CSO) said. “Household saving increased in the…
Consumer sentiment continues to lag behind business confidence, fresh data from Bank of Ireland suggests. Bank of Ireland’s regular ‘Economic Pulse’ combines business and consumer elements to track sentiment in the economy month to month. The index was up 5.5 on last month but down 21.0 compared with a year ago. Business confidence has risen…
HUGE changes to the working lives of millions of people as a result of the Covid-19 crisis show how a more innovative approach to work could benefit industry, according to a new report. The Institute for Public Policy Research (IPPR) said the UK was nearing a “pivotal moment”, when new working practices could be adopted…
Online retail giant Amazon is to create 1,000 permanent jobs in Ireland over the next two years. This will bring the company’s total workforce here to 5,000 people. The positions will be based across Amazon’s Cork and Dublin sites in Blanchardstown, Tallaght, the city centre, and north County Dublin. The roles being created will range…
The publication of the Central Statistics Office’s estimates of last year’s economic growth is normally newsworthy. But when figures appeared indicating that our gross domestic product had grown by about a quarter in 2015, it generated huge headlines, not just in Ireland but across the world. Of course, while the Irish economy performed well in…