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Manufacturing sector contracts for fourth month in a row – PMI

Manufacturing sector contracts for fourth month in a row – PMI

Factory activity shrank for the fourth successive month in September and is stuck around levels posted in July and August as a global manufacturing slowdown and Brexit uncertainty weigh on demand.

The AIB IHS Markit manufacturing Purchasing Managers’ Index (PMI) stood at 48.7 in September, up slightly from 48.6 in August and in line with July’s 48.7.

Sterling dips to one-month lows as Brexit nerves hit

Sterling dips to one-month lows as Brexit nerves hit

The British pound extended losses today, plunging through technical support levels to a one-month low against the dollar as traders became increasingly nervous about Britain crashing out of the European Union at the end of the month.

Broad-based dollar strength also contributed to the falls,analysts said.

With Prime Minister Boris Johnson expected to soon present his proposals for an amended Brexit …

Central Bank urges no-deal Brexit checks with financial services firms

Central Bank urges no-deal Brexit checks with financial services firms

The Central Bank has urged customers of financial services companies to take steps to ensure those firms are ready for the consequences of a no-deal Brexit.

The regulator has also warned there will inevitably be some negative impact on consumers where firms have not prepared properly.

Gráinne McEvoy, Director of Consumer Protection at the bank, recommended that consumers read any …

Weak US business investment, tepid profits cast shadow on economy

Weak US business investment, tepid profits cast shadow on economy

US business investment contracted more sharply than previously estimated in the second quarter and corporate profit growth was tepid.

Today’s new figures cast a shadow on an economy that is being stalked by financial market fears of a recession.

Weak business spending, which has been blamed on the Trump administration’s nearly 15-month trade war with China, and tepid profit …

Sterling extends losses as Brexit impasse prevails

Sterling extends losses as Brexit impasse prevails

Sterling fell today for a second day in a row, as investors waited for parliament’s next step to break the Brexit impasse and opposition leaders gathered to discuss tactics.

The European Union’s Brexit negotiator, Michel Barnier, said Britain had yet to provide “legal and operational” proposals for an agreement on exiting the bloc at the October 31 deadline.

The UK Supreme Court …

Retail sales rebound in August – CSO

Retail sales rebound in August – CSO

Retail sales increased 2.1% in August on an annual basis, new figures from the Central Statistics Office show today.

On a monthly basis, the CSO said that retail sales jumped by 5.7% in August compared to July.

Excluding the motor trade, which has been very volatile in recent years, retail sales grew by 1.1% in August and 4.4% when compared with …

FTSE drops for 5th straight day after slew of profit alerts

FTSE drops for 5th straight day after slew of profit alerts

London’s FTSE 100 fell for the fifth straight session on Thursday as profit warnings from tobacco firm Imperial Brands, Aer Lingus owner IAG and education company Pearson weighed down the blue-chip index.

The FTSE 100 gave up 0.2pc, as Imperial and BAT shed 9pc and 3pc respectively, after the blu e-cigarette maker cut annual sales and profit view.

Pearson …

Mortgage approvals see annual rise of 4.1% in August

Mortgage approvals see annual rise of 4.1% in August

New figures show that the number of mortgages approved rose by 4.1% in August on an annual basis, while they fell by 15.1% compared to July.

The Banking & Payments Federation Ireland, which is urging an extension of the Help to Buy scheme in next month’s Budget, said a total of 4,355 mortgages were approved in August.

Over 51% of these …

Govt should consider supplementary Budget to respond to Brexit – ESRI

Govt should consider supplementary Budget to respond to Brexit – ESRI

The Economic and Social Research Institute has said the Government should consider a supplementary Budget in the New Year to respond to Brexit.

Next month’s Budget will be drawn up on a “disorderly Brexit” scenario.

In its latest Quarterly Economic Commentary, the think-tank warns that a no-deal Brexit may be worse than thought. It could push the economy into …

UK factory output expectations plunge to 10-year low

UK factory output expectations plunge to 10-year low

British factories’ own expectations for output fell in September to their lowest in more than 10 years, according to a survey that showed Brexit and a global slowdown weighing on manufacturing.

The Confederation of British Industry’s (CBI) monthly manufacturing order book balance fell to -28 in September from -13 in August, below poll expectations of -18.

The survey’s gauge of output expectations …

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