economy

Economic confidence up in May but remains weak overall

Consumer and business sentiment rose slightly in May, albeit from a low base according to the latest Pulse survey from Bank of Ireland. Consumer confidence was up marginally in the month, while all sectors of business saw an improvement. That came as improving data on the number of Covid-19 cases in Ireland continued to improve, […]

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Consumer economy collapses in April due to Covid-19

Disposable income was down by as much as 25% in April, despite the implementation of wage supports and enhanced welfare arrangements for workers impacted by Covid-19. This is according to the latest Consumer Market Monitor from the Marketing Institute and the UCD Smurfit Graduate Business School. Consumer sentiment dipped to its lowest level since 2012 […]

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Consumer economy collapses in April due to Covid-19

Disposable income was down by as much as 25% in April, despite the implementation of wage supports and enhanced welfare arrangements for workers impacted by Covid-19. This is according to the latest Consumer Market Monitor from the Marketing Institute and the UCD Smurfit Graduate Business School. Consumer sentiment dipped to its lowest level since 2012 […]

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Ireland could run €30bn deficit this year, Donohoe tells Dáil

Minister for Finance Paschal Donohoe has said that there is a possibility that Ireland will run a deficit of €30 billion this year. “We expect public debt to increase significantly this year,” the Minister said. Speaking in the Dáil, Paschal Donohoe said the deficit can be financed at low interest rates at the moment but he said sentiment […]

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Ireland could run €30bn deficit this year, Donohoe tells Dáil

Minister for Finance Paschal Donohoe has said that there is a possibility that Ireland will run a deficit of €30 billion this year. “We expect public debt to increase significantly this year,” the Minister said. Speaking in the Dáil, Paschal Donohoe said the deficit can be financed at low interest rates at the moment but he said sentiment […]

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Economy forecast to contract by 8% in 2020

Ireland’s economy will contract by 8% in 2020 and expand again by 6% in 2021 as the coronavirus pandemic takes its toll, according to the European Commission’s latest economic forecast. The economic uncertainty has been compounded by “specific” Irish factors, such as Brexit and changes in international taxation, the outlook says. Overall, Ireland’s unemployment, deficit and debt levels […]

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Minister says scale of challenge on national economy and households ‘now very clear’

591,000 people are now receiving the Covid-19 Pandemic Unemployment Payment, with around 21,000 receiving it for the first time this week.  That is on top of around 212,000 eligible for standard “non-Covid” Jobseekers benefit of €203 per week, and 337,400 receiving income support through the Temporary Wage Subsidy Scheme.  The Minister for Employment Affairs and […]

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Irish economy well placed to rebound from Covid-19 – Davy

A new report from stockbrokers Davy said that while the outbreak of Covid-19 presents significant challenges, Ireland’s economy should prove to be far more resilient relative to the rest of Europe than it did in the last downturn.  The stockbrokers noted that recent years have been characterised by a lack of credit demand, mainly due to […]

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IMF: Irish economy set to return to growth next year

The International Monetary Fund is forecasting that Ireland’s economy will decline by 6.8% in Gross Domestic Product (GDP) terms this year, as a result of the impact of the Covid-19 pandemic. The figure is contained in the IMF’s World Economic Outlook, published today. The IMF believes that unemployment in Ireland will average 12.1% this year and 7.9% in 2021. […]

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Economy to shrink by at least 7.1% due to virus – ESRI

The economy could contract by over 7% this year and unemployment could soar to around 18% as a result of measures taken to slow the spread of the coronavirus, the Economic and Social Research Institute warned today. The ESRI said the Covid-19 pandemic is the greatest threat that the Irish economy has faced since the financial crisis.  […]

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