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OPEC+ agrees to delay December output hike for a month

4th November 2024

OPEC+ has agreed to delay a planned December oil output increase by one month, the group said, as weak demand notably from China and rising supply outside the group maintain downward pressure on the oil market. Eight members of OPEC+, which groups the Organization of the Petroleum Exporting Countries plus Russia and other allies, were […]

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October new car registrations up 9.7%, but EV registrations down 12.3%

4th November 2024

New figures from the Society of the Irish Motor Industry (SIMI) show that new car registrations for October rose by 9.7% to 2,423 when compared to the figure of 2,208 the same month last year. Registrations so far this year are down 1.2% to 119,668 on the 121,134 cars registered the same time last year. […]

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Government urged to ‘ramp up’ broadband capacity

4th November 2024

The Government has been told that National Broadband Ireland should seek to ramp up its capacity to meet the demand for new connections in anticipation of continued strong take-up. The recommendation is contained in an independent evaluation report of the National Broadband Plan which was prepared by EY Ireland. The study was based on extensive […]

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Euro zone inflation rebounds more than expected in October to 2%

1st November 2024

Euro zone inflation accelerated more than expected in October and could still pick up further in the coming months, bolstering the case for caution in European Central Bank interest rate cuts as price growth is not yet fully tamed. Inflation in the 20 countries sharing the euro currency accelerated to 2% from 1.7% in September […]

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Tentative signs of ‘turnaround’ for manufacturing sector

1st November 2024

Activity in the manufacturing sector improved in October, driven by a rise in output and new orders. The latest AIB Manufacturing PMI shows that business conditions improved at the fastest pace since February. The headline index increased to 51.5, from 49.4 in September. Readings above 50 indicate overall growth in activity. The Irish manufacturing PMI […]

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Labour productivity levels decline in key SME sectors, report warns

1st November 2024

Labour productivity levels have declined in key SME sectors, a new report warns. According to the latest SME Monitor published by Banking & Payments Federation Ireland (BPFI), there has been a productivity decline of around 29% in construction, and 14% in accommodation and food services. “If we look at this in a European context the […]

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Wholesale electricity prices rise over 12% in September – CSO

31st October 2024

New figures from the Central Statistics Office show that wholesale electricity prices increased by 12.2% in September compared to August, and were 1% higher compared to September of last year. But wholesale electricity prices have fallen by 70.9% when compared with their peak seen in August 2022. The price index for all energy fuels dropped […]

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International tourists spending less time here, more money

31st October 2024

International visitors are spending less time in Ireland, but more money. New figures from the Irish Tourism Industry Confederation (ITIC) show that the length of overnight stays between July and September fell 7%, when compared to the same time last year. However, revenue was up 10% with visitors spending €2.14 billion. Nearly 2 million international […]

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Euro zone inflation rebounds more than expected in October to 2%

31st October 2024

Euro zone inflation accelerated more than expected in October and could still pick up further in the coming months, bolstering the case for caution in European Central Bank interest rate cuts as price growth is not yet fully tamed. Inflation in the 20 countries sharing the euro currency accelerated to 2% from 1.7% in September […]

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Three quarters of businesses report increase in cyberattacks – survey

30th October 2024

Almost three quarters of Irish businesses have reported an increase in cyberattacks in the past year, according to new research. The Hiscox Cyber Readiness Report shows that Irish companies have experienced an average of 58 cyberattacks over the last 12 months. Almost half of businesses surveyed said they had suffered reputational damage due to the […]

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