According to economic data analyzed by the Bank of Ireland, the COVID-19 pandemic has significantly affected consumer buying decisions. The government’s response to the coronavirus through forced restrictions saw the closure of many industries. This negatively impacted consumer outlook and disposable income, leading to a fall in spending. However, there’s been a noticeable positive change…
Tag Archives: COVID19
There was a reduction in the number of company insolvencies in the first six months of this year, according to new figures from Deloitte. Today’s figures suggests that the impact of Covid-19 has not fully materialised. Deloittes said there were 273 company insolvencies between January and the end of June, a reduction of 12% on…
The Oireachtas Special Committee on Covid-19 Response has heard calls for more help for small and medium businesses affected by the pandemic. The Chair of SME Recovery Ireland, John Moran, told politicians that small and medium businesses across Ireland are dying and need more funding to help them to survive. In his opening statement, Mr Moran called…
Hairdressers, barbers, spas, chiropractors and dentists were among the big beneficiaries of the Phase 3 reopening of the economy yesterday, according to transaction data from Revolut. Pubs and restaurants also got a boost from the restart of business, although to a lesser extent than the other big winners. Excluding online shopping, overall spending yesterday by…
The country’s unemployment rate, including those receiving temporary Covid-19 jobless benefit, fell to 22.5% at the end of June from 26.1% a month earlier, new figures from the Central Statistics Office show. Today’s monthly unemployment figures reflect the first two stages of the economy’s gradual re-opening. The unemployment rate, which stood at just 4.8% before…
The downturn in euro zone manufacturing was not as bad as initially thought last month after more economies in the bloc eased restrictions imposed to quell the spread of the coronavirus. Over 10 million people have been infected by the virus globally and more than 500,000 have died. This lead governments to impose lockdowns and force…
The manufacturing sector returned to growth in June after recovering almost all of the sudden deterioration seen following the coronavirus-related shutdown of most of the economy in March, a survey showed today. The economy here has opened more gradually than much of Europe with large parts of the services sector including hotels, restaurants, hairdressers and…
A large number of full-time workers in receipt of the Temporary Wage Subsidy Scheme or Pandemic Unemployment Payment face tax bills of between €150 and €2,828 by the end of the year, Taxback.com has warned. The latest Taxback.com Taxpayer Sentiment Survey revealed that 57% of respondents receiving either payment are not aware that a future…
Employers’ group Ibec has called for Ireland’s international travel restrictions to be ended and for testing and tracing to be used in place of “ineffective” quarantine measures. People entering Ireland from abroad currently have to quarantine themselves for 14 days upon arrival into the country. Ibec CEO Danny McCoy said there were benefits from quarantine…
Consumer sentiment improved in June for the second month in a row, but remains well below levels recorded before the onset of the COVID-19 crisis, a survey showed today. The KBC Bank consumer sentiment index climbed to 61.6 in June from 52.3 in May, but remains some distance from February’s pre-pandemic reading of 85.2. In…