Oct 9, 2015 - 12:32 AM
Aug 27, 2015 - 8:53 AM
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Aug 20, 2015 - 10:30 AM
The International Monetary Fund (IMF) on Wednesday signaled that China’s renminbi (people's currency in Mandarin)/ yuan (unit) will not be added to the Fund's basket of reserve currencies for at least a year. Meanwhile a working paper by World Bank economists confirms that currency devaluations are losing their firepower.
Aug 20, 2015 - 9:21 AM
With the sky-high franc showing no signs of returning to earth, task forces at export-oriented Swiss companies are busily working out ways to tighten belts and stay competitive in the face of the currency crisis.
Aug 19, 2015 - 7:39 AM
Japan Wednesday reported its biggest trade deficit since February, as exports slowed and the decline in imports widened. On Monday Japan reported that GDP shrunk in the second quarter - the yen has fallen 33% against the US dollar since early 2013 when the Bank of Japan began a massive programme of quantitative easing (bond buying in the market commonly known as money printing).
Aug 19, 2015 - 6:26 AM
Spain's economy grew at 1% rate in the second quarter of 2015 and 3.1% on the same quarter in 2014 but the International Monetary Fund has warned that the recovery is likely to slow in the next few years after an expected GDP (gross domestic product) rise of 3.1% by the end of 2015.
Aug 19, 2015 - 4:28 AM
Global investors have shifted their attention from Greece to China amid continued concern of a Chinese recession, according to the BofA Merrill Lynch Fund Manager Survey for August. Respondents are scaling back their expectations for economic growth. Meanwhile, the Financial Times reports that "a surge of capital gushing out of emerging markets (EM) has risen toward $1tn over the past 13 months, roughly double the amount that fled during the financial crisis amid slumping confidence in the world’s developing economies."
Aug 18, 2015 - 8:27 AM
Digital Taylorism: Amazon.com's founder and chief executive on Monday in a message to staff rejected what he termed a depiction of the company as a "soulless, dystopian workplace" and he suggested that if that was the reality, staff would be "crazy" to remain in such an organisation.
Aug 18, 2015 - 4:38 AM
Year-on-year inflation in rents eased back slightly between March and June but remain high at 8.6% nationwide, according to the latest quarterly Rental Report by Daft.ie. The national average rent between April and June was €934, compared to €860 a year previously. Inflation in rents peaked in late 2014, at 10.7%.
Aug 17, 2015 - 8:18 AM
Italy's Mezzogiorno region covering the southern half of the Italian peninsula combined with the islands of Sardinia and Sicily, is the Achilles heel of the Euro Area and it has some of the worst economic metrics in the European Union, including the lowest birth rate since 1862 when Italy had a total population of 22m (this number comes from Istat, the national statistics office. 26m is also cited elsewhere) compared with 59m today.
Aug 14, 2015 - 10:22 AM
The Euro Area economy grew a weak 0.3% in the second quarter, Eurostat, the European Union's statistics office, reported in its first estimate published on Friday.
Aug 14, 2015 - 9:09 AM
The German economy continues to grow. In the second quarter of 2015, the gross domestic product (GDP) rose 0.4% on the first quarter of the year after adjustment for price, seasonal and calendar variations. France's GDP stagnated in the period.
Aug 14, 2015 - 8:37 AM
Finfacts has often reported on research which shows that young firms up to 5 years old are typically responsible for most net job creation in an economy. This research usually based on US data and published by the Kauffman Foundation, an entrepreneurship think-tank, has now been supplemented by a useful working paper from the Organisation for Economic Cooperation and Development (OECD).
Aug 13, 2015 - 8:59 AM
Germany's Surplus: There are many critics of Germany's trade and current account surpluses but credible solutions are scarce.
Aug 13, 2015 - 8:55 AM
Euro Area industrial production fell in June and May after a flat April, signalling the fragility of the current recovery.
Aug 13, 2015 - 8:51 AM
Greece faces two years of recession as it implements budget cuts and tax rises that are required by its latest €85bn bailout agreement, European Union officials have said. Alexis Tsipras, Greek prime minister, expressed confidence that the deal would be completed.
Aug 12, 2015 - 2:23 PM
The global oil glut will continue into 2016 according to the Paris-based International Energy Agency (IEA).
Aug 12, 2015 - 7:03 AM
During the crisis years the official EU (European Union) youth unemployment rate, in particular in respect of Greece and Spain, has been stunning but it's not as bad as it seems.
Aug 12, 2015 - 6:45 AM
The rise of the US dollar against the euro and other world currencies over the past year has reduced the cost-competitiveness of US manufacturing compared with economies such as Germany, France, Japan, Australia, and Brazil. But the US still maintains a very significant cost advantage over these economies, and therefore manufacturers are unlikely to shift production to other nations. These are among the findings of new research released by Boston Consulting Group (BCG), the American consultancy firm.
Aug 11, 2015 - 6:45 AM
Irish Farmers & Milk Prices: Last April 1st, the end of a three-decade milk production quota regime in the European Union was hailed by the Government as "a great day for the rural Ireland" with the potential for agriculture in Ireland to move forward into broad, sunlit uplands with the opening of new markets and the creation of thousands of jobs in the agri-food sector. Today farmers in Ireland and across Europe are demanding that the European Commission set a new minimum price at which it would buy stocks of dairy products.
Aug 10, 2015 - 1:33 PM
Composite leading indicators (CLIs), designed to anticipate turning points in economic activity relative to trend, point to stable growth momentum in the OECD area as a whole.
Aug 10, 2015 - 8:26 AM
Growth of retail sales in the Euro Area accelerated at the start of the third quarter, reflecting upturns in each of the bloc’s big-three nations, latest Eurozone Retail PMI (purchasing managers' index) data showed.
Aug 10, 2015 - 7:58 AM
Signs of a slowdown in growth rates of Irish construction activity during July were reported, according to the latest monthly PMI survey.
Aug 10, 2015 - 7:30 AM
China's exports fell more than expected in July while foreign exchange reserves dipped by $42.5bn in the month.
Aug 10, 2015 - 3:59 AM
Despite almost zero interest rates and quantitative easing (bond-buying in the market, commonly known as money printing) provided by the European Central Bank (ECB) in recent times, monetary policy remains tight for Southern Europe.
Aug 7, 2015 - 3:14 PM
US nonfarm payroll employment rose by 215,000 in July, and the unemployment rate was unchanged at 5.3%. Employment increased in retail trade, health care, professional and technical services, and financial activities. The Bureau of Labour Statistics reported that the broad rate of unemployment was 10.4%.
Aug 7, 2015 - 8:12 AM
Average Irish pension managed funds returns were over 12% year-to-date to July, 2015 with Rubicon Investment Consultants reporting a return of 12.5% as per the above chart while the Aon Hewitt Managed Fund Index, an index representing the performance of traditional Irish pension managed funds, increased by 2.59% in July. This has contributed to the index delivering a positive return of 11.98% since the beginning of the year and 21.27% over the past 12 months.
Aug 7, 2015 - 8:03 AM
The economic recovery has given a big boost to the profession affectionately known as bean counters or number crunchers (I used be one) and an annual survey shows a 13% surge in the value of salary packages of Irish chartered accountants.
Aug 7, 2015 - 7:56 AM
German exports and imports fell in the month of June but the year-on-year data are up sharply according to Destatis, the federal statistics office. There was a record monthly surplus and falling oil prices was a factor.
Aug 7, 2015 - 7:04 AM
Prices for major food commodities in July hit their lowest average monthly level since September 2009 as sharp drops in the prices of dairy products and vegetable oils more than offset some increases for those of sugar and cereals. Meat prices, meanwhile, remained stable.
Aug 6, 2015 - 7:26 AM
Business startup rates in OECD countries have generally risen since the crisis — particularly in Australia and the United Kingdom — but they remain below pre-2008 levels in many Euro Area economies.
Aug 6, 2015 - 7:22 AM
The Irish services PMI (purchasing managers index) survey that includes the big US firms such as Google and Microsoft who book foreign sales in Ireland for tax purposes, shows a surge in activity in July but on Wednesday the CSO reported that its monthly services index which excludes financial services has risen only by 2.1% in the 12 months to June.
Aug 6, 2015 - 6:51 AM
Irish Economy: Tax revenues were €893m above target in the year to July with €653m coming from corporation tax, according to the latest Exchequer returns.
Aug 5, 2015 - 8:52 AM
Fact and Fiction: Ireland's economic statistics are heavily distorted by the foreign-owned multinational sector and the level of distortions have increased in recent years.
Aug 5, 2015 - 6:48 AM
Irish M&A deals H1 2015: The mid-year William Fry Mergers & Acquisitions Report in association with Mergermarket shows an apparently strong start to 2015 with a total of 45 deals taking place in Ireland, worth €35.1bn. The biggest deal was valued at €32.6bn but it was only Irish for window-dressing or tax purposes depending on the vantage point.
Aug 4, 2015 - 7:49 AM
Growth in the global manufacturing sector remained lacklustre at the start of the third quarter. At 51.0 in July, unchanged from June, the JPMorgan Global Manufacturing PMI (purchasing managers' index) - a composite index1 produced by JPMorgan and Markit in association with ISM (US Institute for Supply Management) and IFPSM (International Federation of Purchasing and Supply Management) - registered its joint-weakest reading during the past two years.
Aug 4, 2015 - 7:24 AM
The Irish manufacturing sector continued to improve in July as growth of output, new orders and employment all accelerated during the month. On the price front, a slower rise in input costs was recorded, while output prices decreased for the second month running.
Aug 4, 2015 - 6:35 AM
The Eurozone manufacturing sector continued to expand at a solid steady pace at the start of the third quarter, as continued growth in the Netherlands, Italy, Spain, Austria and Germany offset the deepest contraction of the Greek manufacturing sector in the survey history.
Jul 30, 2015 - 2:26 PM
The US economy accelerated modestly in the second quarter after a slow start to 2015, but growth this year is still less than last year's first half and is well below the overall pace of the recovery. In the first quarter, real GDP increased 0.6% (revised).
Jul 30, 2015 - 11:54 AM
Irish Economy: Following a 5-week delay, the CSO on Thursday reported the Q1 2015 National Accounts data and there has been a fall in GNP (gross national product) and a rise in GDP (gross domestic product).
Jul 30, 2015 - 8:14 AM
Irish Economy 2015: The Central Bank said Wednesday that following GDP (gross domestic product) growth of 4.8% last year, the strong recovery of the Irish economy has continued in the first half of 2015 and it said that the Government should start paying down public debt.