Economic Debt & Credit Research
Residential property price inflation to slow in June
Today’s Residential Property Price Index (RPPI) release for June should show house price inflation starting to slow from May’s 12.4% rate, especially in the capital, Dublin, where...
German growth beats expectations in Q2
This morning’s final major GDP release for Q2 for Germany beat expectations, rounding off a solid, if unspectacular, quarter of growth figures for the eurozone. German GDP was up 0.5%...
Irish economy: labour market recovery has further to run
The recent sharp decline in the unemployment rate to 6.6% begs the question of how much further the recovery has left to run. We think there is still plenty of slack in the labour...
Eurozone and UK: prospects diverge in post-Brexit Europe
In our January issue of Davy Economics Monthly, we highlight the diverging outlook for the eurozone and UK economies in 2017. Concerns around political events – namely, elections in...
Irish economy Dublin house price inflation eases to single-digit pace
As expected, annual house price inflation eased in June to 12% from 12.4%, albeit prices were still up 1.1% on the month. In Dublin, prices were up 0.2% on the month and annual inflation... ...
Irish economy Tax revenues continue to grow strongly
July’s exchequer returns show continued buoyant tax revenues, up 5.5% on 2017, but accompanied by sharp increases in public expenditure. Gross voted current expenditure is up 6.2% on... ...
Irish economy Retail sales up strongly in Q2
Core retail sales were up marginally in June, by 0.1% on the month, and annual growth was 4.6%, ending another strong quarter for consumer spending in Q2 with sales up 1.2% on Q1 and... ...
Irish economy House price inflation eases in May
As expected, annual house price inflation eased in May to 12.4% from 13.5%, albeit prices were still up 0.6% on the month. In Dublin, prices were up 0.5% on the month and annual inflation... ...
Theresa May to propose a two-stage backstop for the Irish border
Sterling received limited support from Friday’s UK GDP data, which showed a bounce-back in Q2. The good news was tempered by a small 0.3% gain in consumer spending and with services...
Bank of England forward guidance on neutral rate could surprise
Given past messaging, the Bank of England’s MPC has little excuse not to follow through on a rate hike to 0.75% at its policy meeting today. Also, the MPC’s first estimate of the...
Draghi in holiday mode
An uneventful press conference left us little the wiser as to the ECB’s plans in the next year. The statement was broadly unchanged from June, although the tone of Draghi’s comments...
UK household sentiment strong despite Brexit uncertainty
The latest Markit UK Household Finance Index showed that households were positive about their future finances for the first time since March 2016 and reported the fastest rise in...