The cost that comes with living in Ireland is experiencing an increase. The amount of houses available to buy does not satisfy the demand for it, electricity demand has increased over the years due to the need for technology and is putting strain on electricity output. This increase in demand is causing a rise in…
Tag Archives: COVID-19
Lockdown dealt a heavy blow to many sectors since March last year. The shutdown of the hospitality and services sectors alone was one of the heaviest hits. Consumer spending data suggests significant pent-up consumer demand which will be unlocked once restrictions are eased. Lockdown dealt a €2bn hit to construction output in 2020 – report…
With the world and the economy still reeling from the Covid-19 pandemic, the government promises new schemes to boost business grants, as well as provide targeted financial support for certain sectors. Varadkar promises more targeted Covid-19 supports The economy will “bounce back” sooner than many people think, the Tánaiste has told the Dáil, but he…
There is a lot of uncertainty around the welfare of Ireland’s economy due to the impact of the COVID-19 pandemic. These predictions could provide some clarity on the forecasts regarding the positive and negative effects on the economy for 2021 and the remainder of 2020. COVID-19 to cause an estimated 8% contraction in Ireland’s economy…
The combination of Brexit uncertainty in late 2019 and the COVID-19 strict lockdown restrictions in early 2020 have harmed the property industry. Prices have continued to nosedive from February. The implementation of COVID -19 lockdown regulations saw a gradual drop in economic activity with associated job losses. As a result of this, the residential property…
The COVID-19 pandemic and its subsequent disruptions have led to more job losses and an erosion of income. This has led to a downswing in the property industry as the number of buyers has dropped significantly, property prices have become unstable, homeowners have become financially incapacitated, and consequently, have compelled Irish Banks to grant them…
Construction activity continued to fall sharply in May but at a softer pace than in April, the latest Ulster Bank Construction PMI survey shows today. The Purchasing Managers’ Index, which tracks changes in total construction activity, posted a reading of 19.9 in May. This was up from 4.5 in April as the construction sector opened up…
Exchequer figures for May show an overall deficit in the public finances of €6.143bn. This compares with a deficit of €63m in the same month last year. An unexpected increase in the amount of corporation tax collected offset sharp declines across all other tax heads. Spending was up ahead of where it was planned to…
The level of mortgage approvals fell substantially in April, according to the latest figures from the Banking and Payments Federation. The figures are reflective of the fact that the property market has all but stalled in recent months as the Covid-related shutdown of the economy took effect. Just 2,200 mortgages were approved in April with…
Unemployment, adjusted to account for those on the Pandemic Unemployment Payment, fell slightly in May to 26.1%. This compares to 28.2% in April. The percentage of younger people unemployed continues to be high with 51% of those 15-24 out of work compared to 22.5% of those aged over 25. The Central Statistics Office reports that…