An Oireachtas committee has heard that workers in the Republic of Ireland are 40% more productive than those in Northern Ireland.The gap is considerably greater in monetary terms, with Northern Ireland’s per capita income being less than half of that of the Republic of Ireland’s.Dr. Alan Barrett, CEO of the Economic and Social Research Institute … Read more
According to a survey released on Thursday, Irish consumer sentiment increased in January to its highest level in seven months. The authors credit the improvement to a decline in fuel prices and a strong Irish economy. In January, the Credit Union Consumer Sentiment index increased to 55.2 from 48.7 in December.That was up from a … Read more
According to the Gross Domestic Product, the economy expanded by 2.3% between July and September of this year. However, activity in the domestic economy measured by Modified Domestic Demand fell by 1.1%. At the end of September, the economy as measured by GDP expanded by 10.9% annually while the economy as measured by Modified Domestic … Read more
According to the Organisation for Economic Co-operation and Development (OECD), the world economy should avoid going into recession next year, but the worst energy crisis since the 1970s will cause a sharp slowdown, with Europe being the hardest hit. The group urged central banks to keep raising interest rates as a defence against this. Global … Read more
An Exchequer surplus of €7.9 billion was recorded in the year to the end of September 2022. This compares with a deficit of €6.2 billion in the same period last year. The €14.1 billion improvements in the Exchequer balance was primarily driven by a decline in COVID-related expenditure and by strong growth in tax revenue, … Read more
A Wicklow-based firm Automatic Plastics, which specialises in plastic manufacturing for industries such as pharmaceuticals and medical devices, has announced significant expansion plans. Automatic Plastics (APL) is celebrating its 50th year in operation in the county by creating 80 new jobs. APL will also invest millions of euros in a new expansion plan for its … Read more
The international pizza shop chain Domino’s Pizza will provide 1,000 new employment to the Irish economy. The company revealed on Monday that it will fill the new positions at 88 locations in Ireland. For a variety of jobs including delivery drivers, in-store team members, and pizza makers, Domino’s is hiring all throughout the nation. Domino’s … Read more
For the first time in 20 years, the euro has fallen below the dollar as the war in Ukraine pushes the single currency down. The euro down about 12% since the start of the year. Fears of the recession on the continent abound, stoked by high inflation and energy supply uncertainty caused by Russia’s invasion … Read more
Inflation in Ireland has increased to the highest level in 38 years, according to the Consumer Price Index May 2022 by CentralStatistics Office (CSO). New figures from CSO show that inflation hit by 7.8% in the year to May 2022,up from an annual increase of 7.0% in the year to April 2022. This is the … Read more