News

New figures from the Central Statistics Office show that the number of people unemployed rose marginally in October. When adjusted for seasonal factors, the unemployment rate moved up to 4.8% in October from 4.7% in September. This compares to a rate of 4.5% in October last year. Today’s CSO figures show that the seasonally adjusted […]

The lack of skilled trades people could affect growth in the economy, according to the latest SME Monitor by Banking and Payments Federation Ireland. Construction firms have reported challenges in hiring suitably trained and skilled staff, with small and medium-sized enterprises particularly affected. A recent report published by Chambers Ireland shows that over 95% of […]

The Central Bank has launched an information campaign to help consumers avoid personal finance scams. It said fraudsters are using increasingly sophisticated methods which calls for an increased level of awareness among the public. The scams take different forms including fake loan providers, ‘clones’ of well-known personal finance service providers like banks and fake investments […]

Two thirds of adults in Ireland think the banking sector lacks competition, new research has found. While almost three quarters agree that the process of opening a new bank account is difficult. The survey, carried out among 1,000 adults in Ireland by Censuswide on behalf of fintech Wise, also found that just over half trust […]

The latest figures from the Society of the Irish Motor Industry show that new car registrations for October were down 16.8% to 2,178 when compared when the figure of 2,617 the same time last year. But SIMI said that registrations year to date are up 15.6% to 120,495 from 104,204 the same time last year. […]

Inflation in the euro zone hit a two-year low a month after its economy began contracting, data showed today, illustrating the dual impact of a steady diet of European Central Bank’s interest rate hikes. Euro zone consumer prices rose by just 2.9% in October, their slowest pace since July 2021, a Eurostat flash reading showed, […]

A number of energy suppliers are set to cut charges for electricity and gas from today. Nearly two million customers will benefit from cuts in unit prices and standing charges. The reductions come ahead of the application of the first Government electricity credit in December. More than 1.1 million Electric Ireland customers will see the […]

Business conditions in the manufacturing sector continued to weaken in October, new figures show. The latest Purchasing Managers Index from AIB reveals that activity weakened to the greatest extent in three months, driven by a fall in new orders and output. The index dropped to 48.2 from 49.6 in September, and 50.8 in August. Readings […]

There has been a significant slowing in the estimated annual rate of inflation in October. According to the latest “flash” estimate of inflation from the Central Statistics Office, the annual rate in October slowed to 3.6%. The last time the annual rate of inflation was lower than this was back in August 2021, just before […]

It has certainly been a busy eighteen months for the Monetary Policy Committee of the European Central Bank. Having spent several years repeating pretty much the same script, meeting after meeting, about leaving rates unchanged at their historically low levels, the inflationary backdrop prompted a change in course last year. And it was a course […]