Archive for December 2023

Credit unions affiliated with the Irish League of Credit Unions (ILCU) reported the highest level of new lending since 2009 in the last year, the latest results for the group show. In the 12 months to September, loan values were up by €555m. This brought the total ILCU loan book to €5.3 billion with much…

Corporation taxes recovered strongly in the month of November, helping the Exchequer to deliver a surplus of €5.4 billion. Just over €6 billion was collected in corporation tax, an increase of €1.3bn – or 27% – on last year. For the past three months, corporation tax has come in lower than government forecasts. But in…

Fashion and other non-food retailers in Ireland are increasing salaries by 10%-12% in a bid to secure and retain top-tier talent, according to the Excel Recruitment 2024 Salary Guide. Excel said the pay rises are putting a financial squeeze on the budgets of smaller retailers. According to the guide, some roles in the retail sector…

The rate of growth in the service sector picked up in November, new figures show. The latest AIB Purchasing Managers’ Index (PMI) shows the rates of expansion in total activity and new business both accelerated in the month for the first time since April. The index reached 54.2 last month, up from 52.6 in October…

Consumers expect average expenditure this Christmas to be down 13% compared with last year, according to a survey conducted for the Competition and Consumer Protection Commission (CCPC). The survey of 1,035 people found the average spend this year will be €1,030, down from €1,186 in 2022. Those with children under 18 will spend more at…

The number of new cars registered in November fell 4% according to new data from the Society of the Irish Motor Industry (SIMI). 947 cars were registered during the month, down from 985 in the same month a year earlier. However, despite the fall off last month, so far this year registrations overall are up…

Business conditions in the manufacturing sector stabilised in November, new figures show. The latest Purchasing Managers Index from AIB reveals the second highest reading since February. The index rose to 50 from 48.2 in October, and 49.6 in September. Readings above 50 indicate overall growth in activity. Marginal increases in output and orders combined with…

A new analysis has estimated that around 33,450 new homes could be completed here next year. The research also predicts that around 31,000 will be finished this year. The study by independent construction market forecasting network, Euroconstruct, says construction output in Ireland is likely to expand by 3.2% this year. This will rise to 4.4%…

Figures today from the Central Statistics Office confirm that the economy is in recession. The economy, as measured by gross domestic product (GDP), fell by 1.9% in the three months to the end of September, according to the latest figures from the CSO. Modified Domestic Demand (MDD), which more closely tracks the domestic economy, was…