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Last Updated: Feb 10, 2012 - 2:14 PM |
News
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Irish Economy
Irish industrial production rose 3.5% in December 2011; Down in Q4 2011 and in full year 2011
Irish industrial production in Manufacturing Industries for December 2011 was 3.5% higher than in November 2011. On an annual basis production for December 2011 decreased by 4.1% when compared with December 2010. The seasonally adjusted volume of industrial production for Manufacturing Industries for the three month period October 2011 to December 2011 (Q4) was 1.4% lower than in the preceding three month period.
Feb 10, 2012 - 2:07 PM
News
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Irish Economy
IDA Ireland announce 500 jobs at New York Irish investment conference
IDA Ireland, the inward investment promotion agency, made jobs announcements totalling almost 500 on Thursday to coincide with an investment conference in New York at which former President Bill Clinton was the guest of honour. Taoiseach Enda Kenny, Tánaiste Eamon Gilmore and Minister for Jobs Richard Bruton met potential American investors at the event.
Feb 10, 2012 - 3:27 AM
News
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Irish Economy
Increase of 6.5% in new Irish private cars licensed in January 2012
There were 14,507 new private cars licensed in January 2012, compared with 13,624 in January 2011, an increase of 6.5%.
Feb 7, 2012 - 2:23 PM
News
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Irish Economy
Bord Gáis Energy Index: Rising tensions on Iran oil sanctions pushed energy prices higher in January
Rising tensions between Europe and Iran on oil sanctions pushed wholesale energy prices higher in January, more than offsetting the positive impact of mild weather in Europe during the month, according to the Bord Gáis Energy Index.
Feb 6, 2012 - 8:30 AM
News
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Irish Economy
Irish services sector activity falls for second straight month in January; Rate of decline in new business slows
Irish services sector activity fell for a second straight month in January 2012 but the rate of decline in new business slowed according to a report issued today.
Feb 3, 2012 - 7:24 AM
News
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Irish Economy
Irish Exchequer Returns 2012: Tax receipts up 17% in January with a boost from timing of corporation tax
Irish Exchequer Returns 2012: The Department of Finance said today that the Exchequer deficit in January 2012 was €394m compared to €483m last January. Increased tax and non-tax revenues and lower net voted expenditure were largely offset by higher debt servicing costs and higher non-voted capital expenditure. Tax receipts were up 17% with a boost from timing of corporation tax.
Feb 2, 2012 - 4:55 PM
News
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Irish Economy
Irish Economy 2012: Central Bank sharply cuts Ireland's economic growth forecast for this year
Irish Economy 2012: The Central Bank today sharply cut Ireland's economic growth forecast for this year as the Eurozone faces recession and consumer spending falls at a time of continuing fiscal retrenchment.
Feb 2, 2012 - 12:27 PM
News
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Irish Economy
Irish Live Register 2012: Irish unemployment rate inched down to 14.2% in January; Register dipped 3,200 in month
Irish Live Register 2012: The standardised Irish unemployment rate (SUR) in January 2012 was 14.2%, down slightly from a rate of 14.3% in December 2011. The latest seasonally adjusted unemployment rate from the Quarterly National Household Survey was 14.4% in the third quarter of 2011. There was a drop of 3,200 on the register in January.
Feb 1, 2012 - 11:52 AM
News
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Irish Economy
Irish manufacturing output fell for third straight month in January
Irish manufacturing output fell for third straight month in January as operating conditions continued to deteriorate at the start of 2012. Output and new orders both fell at solid rates. Meanwhile, firms continued to reduce output prices in spite of another strong rise in input costs. On a more positive note, new export orders increased marginally for the second month running.
Feb 1, 2012 - 7:07 AM
News
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Irish Economy
Loans to Irish households continued to fall in December 2011; Irish resident private-sector deposits rose during month
The Central Bank said today that loans to households continued to decline during December, and were 3.8% lower on a year-to-year basis at end-2011, following a decline of 4.1% for the year ending November 2011. Lending for house purchase was 2.5% lower on an annual basis at end-2011, while lending for consumption and other purposes declined by 8% over the same period. There was a rise of €108m in Irish resident private-sector deposits during the month of December. Developments in household sector deposits dominated this aggregate movement, as household deposits increased by €540m during the month.
Jan 31, 2012 - 2:53 PM
News
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Irish Economy
Irish Consumer Sentiment Index increased in January 2012
The overall KBC Bank Ireland/ESRI Consumer Sentiment Index increased to 56.6 in January 2012 from 49.2 in December. The corresponding figure for January 2011 was 48.7. The 3-month moving average weakened to 55.3.
Jan 31, 2012 - 2:12 PM
News
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Irish Economy
IDA Ireland paid €548m to foreign companies in six years to 2011; Permanent jobs lost in 2007-2011 at 10,000
Figures released in response to a parliamentary question by Sinn Féin's Peadar Tóibín to the Minister for Enterprise and Jobs Richard Bruton reveals that IDA Ireland, the State agency responsible for the promotion of FDI (foreign direct investment) paid €548m in grants to foreign companies in the six years to 2011. In 2007, there were 1,070 IDA-supported companies operating in Ireland, but by 2011 there were 66 fewer, with a loss of 10,000 permanent jobs.
Jan 30, 2012 - 4:30 PM
News
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Irish Economy
Irish Economy 2012: IBEC says ECB rate cuts will boost household cash; GDP forecast cut to 0.9%
Irish Economy 2012: IBEC, the main Irish business lobby group, today published its first Quarterly Economic Outlook of 2012 [pdf], which says that the challenging economic outlook, both domestically and in the wider eurozone, reinforced the urgent need for the upcoming Government jobs strategy to include ambitious new stimulus measures to support jobs and growth. The group said interest rate cuts by the ECB (European Central Bank) will raise the cash available for discretionary spending by households with mortgages by 6.5% this year. however, because of "increased uncertainty in Europe and globally," it has cut its forecast for 2012 GDP (gross domestic product) growth to 0.9%.
Jan 30, 2012 - 8:54 AM
News
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Irish Economy
Irish Jobs: Big indigenous firms internationlise; Young high tech firms with potential sold overseas
Irish Jobs: The Government will soon announce an 'action plan' for jobs but policy-makers face a problem - - big indigenous firms when they expand overseas tend to internationalise both in terms of share ownership and job creation while young high tech firms with potential are invariably sold to bigger American firms.
Jan 30, 2012 - 8:15 AM
News
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Irish Economy
Irish retail sales volume increases by 2.1% in December 2011
The volume of Irish retail sales (i.e. excluding price effects) increased by 2.1% in December 2011 when compared with November 2011 and there was an annual increase of 3.0%. If Motor Trades are excluded, the volume of retail sales increased by 0.2% in December 2011 when compared with November 2011, while there was an annual increase of 0.6%.
Jan 27, 2012 - 1:28 PM
News
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Irish Economy
Noonan to discuss proposals to cut Ireland's debt burden, with ECB president
Michael Noonan, Finance minister, will hold talks today in Frankfurt with Mario Draghi, ECB president, on proposals to cut Ireland's debt burden.
Jan 24, 2012 - 8:38 AM
News
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Irish Economy
Irish Public Service: Dare we learn from Finland, Sweden, Switzerland and end guarantee of lifelong employment?
The Irish Times reports today that the Government is likely to have to recruit hundreds of school teachers later this year to plug gaps left by a bigger-than-expected uptake of staff leaving before new pension changes take effect next month. The current voluntary rush for the exits is a symptom of a dysfunctional system which comes at a steep price. Dare we consider reform of a Victorian era guarantee of lifelong employment and learn from successful countries such as Finland, Sweden and Switzerland?
Jan 23, 2012 - 9:05 AM
News
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Irish Economy
Irish consumer prices rose by 2.5% in the year to December 2011
Irish consumer price inflation as measured by the CPI (consumer price index), fell by 0.3% in the month of December 2011. This compares to an increase of 0.2% recorded in December of last year. As a result, the annual rate of inflation fell to 2.5%, down from 2.9% in November 2011.
Jan 19, 2012 - 3:07 PM
News
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Irish Economy
Irish goods exports rose 5% in November 2011; Bruton hails trade surplus that reflects collapse in domestic demand
Seasonally adjusted Irish merchandise goods exports rose by 5% to €8.0bn in November 2011, while imports decreased by 6% to €3.7bn, resulting in a 16% increase in the trade surplus to €4.3bn, the highest on record and the second highest in the Eurozone, according to the Minister for Jobs, Enterprise and Innovation, Richard Bruton.
Jan 18, 2012 - 12:31 PM
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Irish Economy
Bruton announces total of 75 jobs to be created at Sysnet Global Solutions and OpenJaw Technologies by 2014
The Minister for Jobs, Enterprise and Innovation Richard Bruton TD today announced that Sysnet Global Solutions, the Dublin information security and services company, is to invest €1.34m in a "major" research and development programme, supported by Enterprise Ireland. This will see the company create 30 "new high value jobs" in Dublin and 8 in their overseas network, by 2014. Bruton also announced that OpenJaw Technologies is to create 45 new jobs over the next two years.
Jan 16, 2012 - 4:32 PM
News
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Irish Economy
Only 597 new private cars were licensed in Ireland in December and 86,932 in 2011 - - up 2.5% in year
There were 597 new private cars licensed in Ireland December 2011, compared with 647 in December 2010, a decrease of 7.7%. The CSO reported that the December figure brings the total number of new private cars licensed in 2011 to 86,932. This compares to 84,907 new private cars licensed in 2010 - an increase of 2.4%
Jan 16, 2012 - 1:53 PM
News
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Irish Economy
Irish Economy 2012: Davy sharply cuts economic forecasts as Eurozone faces a double-dip recession
Irish Economy 2012: Davy, the stockbrokers, today sharply revised down the outlook for Irish economic growth. It has predicted that GDP (gross domestic product) growth in Ireland will slide as the Eurozone faces a double-dip recession.
Jan 16, 2012 - 8:03 AM
News
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Irish Economy
Bruton announces 250 call centre jobs for Waterford - - following big job cut announcements on Thursday
Following the loss of 1,100 jobs on Thursday announced by Ulster Bank and Diageo, Honeywell Measurex and Isaac's hostel in Dublin - - Ulster Bank 950 jobs - - 600 in the Republic - - and other losses in Kilkenny, Dublin and Waterford, the Minister for Jobs, Enterprise and Innovation Richard Bruton today announced that Eishtec, a Waterford-based company providing consumer contact centre services, is to create 250 new jobs by mid-2012 as part of a major new expansion at its new custom built facility situated at the Cleaboy Business Park, Waterford. This investment is part funded by the Government through Enterprise Ireland. Recruitment for the new positions is currently underway.
Jan 13, 2012 - 10:40 AM
News
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Irish Economy
National Competitiveness Council says Ireland's cost base has not fallen enough to reverse the excesses of the bubble years
The National Competitiveness Council (NCC), today published its annual policy report, Ireland’s Competitiveness Challenge 2011 which outlines policies to address weaknesses in Ireland’s competitiveness performance. The NCC says Ireland's cost base has not fallen enough to reverse the excesses of the bubble years.
Jan 12, 2012 - 5:48 AM
News
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Irish Economy
Irish food/ drinks exports rose 12% in 2011; Sector accounted for 5.3% of total exports
Exports of Irish food and drink rose to record levels in 2011 with the help of a global food commodity boom. Bord Bia, the State agency, says the value of sales arose by 12% to almost €9bn in what it describes as an "excellent achievement" by the industry. Food and drink sector exports accounted for 5.3% of total exports of €171bn.
Jan 11, 2012 - 8:02 AM
News
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Irish Economy
Irish industrial production plunged by 10.3% in November 2011
Production for Irish manufacturing industries in November 2011 was 10.3% lower than in October 2011. On an annual basis production for November 2011 dipped by 3.4% when compared with November 2010. Industrial production dropped 9.5% in the month.
Jan 10, 2012 - 5:26 PM
News
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Irish Economy
Ireland Economy 2012: Irish Economic Outlook; The debt/GDP ratio will rise to 124% in 2014
Ireland Economy 2012: Goodbody today published its Irish Economic Outlook for 2012, identifying six key issues to watch out for in the coming twelve months. The brokers expect GDP (gross domestic product) growth of 0.7% (previously 1.2%), but GNP (gross national product -- mainly excluding profits of the multinational sector) is expected to decline by 0.8% (previously +0.7%), while domestic demand will contract by 2.6%. It is estimated that the debt/GDP ratio will rise to 124% in 2014.
Jan 10, 2012 - 1:41 PM
News
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Irish Economy
Irish exports in 2011 rose 5% to €171bn; Call for action on poor BRIC countries performance
Irish exports in 2011 increased by just under 5% to €171bn which represents a rise of €8bn according to the Irish Exporters Association (IEA). The IEA said there was limited success to date in the fast growing BRIC markets ( Brazil, Russia , India , China), which still accounts for less than 4% of Irish exports .The association warned that we are already playing catch up with most of our competitors in these markets, and that a comprehensive rethink of the Governments export strategy was now needed to help exporters target these high growth economies , 'leap frogging the competition' and delivering growth not just next year but over the next decade when Europe is expected to decline.
Jan 10, 2012 - 7:18 AM
News
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Irish Economy
Trips to Ireland fell by 4.1% to 1,519,300 in period September/ November 2011
In the period September to November 2011, the total number of trips to Ireland fell by 4.1% to 1,519,300, an overall drop of of 65,300 compared to the same period twelve months earlier.
Jan 9, 2012 - 1:48 PM
News
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Irish Economy
Irish consumer sentiment fell sharply in December
Irish consumer sentiment fell sharply in December and ends the year at broadly the level seen in January 2011. The overall Consumer Sentiment Index stands at 49.2, compared to 60.1 in November. The corresponding figure for December of last year was 44.4, and the average for 2011 is 55.8. The 3-month moving average weakened to 57.7.
Jan 9, 2012 - 1:16 PM
News
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Irish Economy
Bord Gáis Irish Energy Index down 1% in December and up 5% in 2011
A decrease in both gas and electricity prices drove the Bord Gáis Irish Energy Index 1% lower for the month of December. The ongoing European sovereign debt crisis, fears about global economic growth in 2012 and a mild start to the winter across Ireland, the UK and Europe, all contributed to put downward pressure on gas and electricity prices. However, Ireland did not benefit fully from falls in fuel commodity prices as the euro weakened over the month. The index now stands at 143, which is 5% higher than in December 2010.
Jan 9, 2012 - 2:16 AM
News
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Irish Economy
IBEC Pay Survey: Irish pay freezes to continue in 2012; Companies also prepared to reduce basic pay rates
IBEC, the principal Irish business lobby group, today published its latest pay survey (Q4 2011) which found that 74% of companies will either freeze or reduce basic pay rates in 2012. IBEC said that while recent survey data suggested some companies will hire over the coming months, pay expectations need to reflect current economic realities; pay rises in 2012 are unrealistic.
Jan 9, 2012 - 1:50 AM
News
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Irish Economy
IDA Ireland supported foreign firms added 6,114 jobs in 2011
IDA Ireland, the Irish State inward investment promotion agency, reported today that the foreign firms it supports added 6,114 jobs in 2011.
Jan 5, 2012 - 1:25 PM
News
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Irish Economy
Irish Live Register: Slight fall in unemployment rate to 14.3% in December; Number of non-nationals at 76,220
Irish Live Register: The standardised unemployment rate (SUR) in December 2011 was 14.3%, down slightly from a rate of 14.4% in November. The latest seasonally adjusted unemployment rate from the Quarterly National Household Survey was 14.4% in the third quarter of 2011. On a seasonally adjusted basis there was a decrease of 3,300 (-0.7%) on the Live Register in the month to December 2011 bringing the seasonally adjusted total to 443,200. The number of non-nationals on the register was 76,220 -- almost unchanged compared with December 2010.
Jan 5, 2012 - 12:43 PM
News
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Irish Economy
Irish services activity fell last month for first time since December 2010 amidst fragile economic conditions
Irish services activity fell last month for first time since December 2010 with the seasonally adjusted Business Activity Index -- which is based on a single question asking respondents to report on the actual change in business activity at their companies compared to one month ago - - below the 50.0 no-change mark for the first time in a year in December at 48.4, down from 52.7 in November. Respondents linked the reduction in activity to fragile economic conditions.
Jan 5, 2012 - 7:26 AM
News
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Irish Economy
Irish Exchequer Returns 2011: Deficit of €24.9bn; Tax revenues €873m below target of €34.9bn; Interest on public debt at €5.4bn
Irish Exchequer Returns: Tax revenues were €873m (2.5%) below the original Budget 2011 target of €34.9bn and were a little lower than the outturn as estimated in Budget 2012 in December according to the Department of Finance today. Interest on the public debt was €5.4bn. The Exchequer deficit in 2011 was €24.9bn compared to a deficit of €18.7bn in 2010 - - a €6.2bn increase in the deficit is due to higher non- capital expenditure resulting primarily from banking related payments.
Jan 4, 2012 - 5:09 PM
News
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Irish Economy
Irish manufacturing contracted for second straight month in December
Irish manufacturing contracted for a second straight month in December. The rate of decline in new business accelerated and was solid. Meanwhile, divergent price trends were again registered, with falling output prices contrasting with further rises in input costs.
Jan 3, 2012 - 7:27 AM
News
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Irish Economy
Globalization and the threats to the accepted way of life in Ireland, Europe and US
The IMF chief economist, a Frenchman, told us this week that optimism for the forthcoming year was greater this time last year than now. In Ireland we have had another year of muddling-through: a leader was sent packing back to Clara with a gilded safety-net for life and while our prospects depend on people in places like Santa Clara, we appear to have found in Europe, a foreign Nemesis for our woes. However, delusion eventually collides with reality and while many may prefer dreams to facing home truths, there are long-term consequences from the crash for both Ireland, Europe and the US as globalization threatens an accepted way of life.
Dec 24, 2011 - 3:52 PM
News
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Irish Economy
Enterprise Ireland 2011: Exports hit record; No full-time jobs added; Record number of Irish companies sold to foreign firms
In its End of Year Statement published today, Enterprise Ireland reported that record levels of exports from Irish-owned firms were achieved, boosted by the global food commodity boom; full-time employment in Irish exporting companies was unchanged at 141,228. There was also a claimed record number of Irish firm sales to foreign firms.
Dec 21, 2011 - 9:07 AM
News
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Irish Economy
Nearly a half of businesses on the island of Ireland are winding up, contracting or simply trying to survive
Nearly a half of businesses on the island of Ireland are winding up, contracting or simply trying to survive according to a survey published today.
Dec 19, 2011 - 8:00 AM
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