Business News

Oil edges down as cautious investors await Fed meet, US CPI data

11th June 2024

Oil prices traded lower today, as investors waited for key US and China CPI data as well as the outcome of the Federal Reserve’s policy meeting to glean a clearer picture of where inflation is heading and how that will affect fuel demand. Brent crude futures fell 13 cents, or 0.16%, to $81.50 per barrel […]

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Euro falls in warning sign for markets after Macron calls snap France vote

10th June 2024

The euro fell sharply today, hit by political uncertainty after gains by the far-right in voting for the European Parliament on Sunday prompted a bruised French President Emmanuel Macron to call a snap national election. The uncertainty in France adds one more element to what will be a busy week for markets with crucial US […]

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Increases in construction activity continued in May – BNP Paribas

10th June 2024

Housing commencements remain on an upward trend, according to BNP Paribas Real Estate Ireland, with continued increases in construction activity across key residential segments. The construction activity index posted fractionally below the 50.0 no-change mark in May to signal broadly stable output in the sector midway through the second quarter. The reading was down from […]

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World food prices rise for third straight month in May, UN says

7th June 2024

The United Nations world food price index rose for a third consecutive month in May, as higher cereals and dairy product prices outweighed drops in prices for sugar and vegetable oils. The UN Food and Agriculture Organisation’s price index, which tracks the most globally traded food commodities, averaged 120.4 points in May, up 0.9% from […]

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Unemployment rate steady in May at 4%, CSO data shows

7th June 2024

New figures from the Central Statistics Office show that the unemployment rate for May was 4%, unchanged from the previous month. On an annual basis, the seasonally adjusted unemployment rate fell to 4% in May from a revised rate of 4.2% the same time last year. The seasonally adjusted number of people unemployed was 111,700 […]

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ECB policymakers warn about inflation challenge

7th June 2024

European Central Bank policymakers warned today that the final stage of pushing inflation down to 2% could be especially hard but said they were confident that policy was working as intended, while some even saw room to ease policy further in 2024. The ECB cut interest rates from record highs on Thursday in a long-telegraphed […]

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45% say their 60s will be the costliest decade of retirement

6th June 2024

Almost half of people in Ireland expect their 60s to be the most expensive time of their retirement, new data shows. The survey carried out by Royal London Ireland reveals that 38% believe they will need the most money in their 70s, while just 17% think their 80s and 90s will be the costliest time. […]

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ECB interest rate cut expected, after hikes since 2022

6th June 2024

The European Central Bank (ECB) is expected to agree a quarter of a percent cut in interest rates at its meeting in Frankfurt. It will come after ten interest rate hikes since July 2022. The monthly mortgage payment is generally the most significant household expenditure for homeowners in Ireland. It is a payment that has […]

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Pace of growth in service sector accelerates in May

6th June 2024

The pace of growth in the service sector accelerated in May, new data shows. The latest AIB Purchasing Managers’ Index (PMI) reveals that the index increased from 53.3 in April, to 55 last month. Readings above 50 indicate overall growth in activity. The pace of expansion was the strongest reading since March and broadly in […]

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Higher annual housing targets expected after budget

5th June 2024

New annual housing targets that will be significantly higher than the current figures are set to be published after the Budget in October. The figures will consider new research from the Economic and Social Research Institute (ESRI) on population and housing demand due to be published this month. It is expected to say that between […]

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