Economic
Irish residential property prices continue to rise in May
Residential property prices decelerated in May despite ongoing weakness in housing market supply, reflected in low transaction volumes. Month-on-month (mom) prices grew 0.1%, down from...
Further evidence of strong economic growth into 2024
Ireland’s economy grew rapidly in 2023 and into early 2024. Revised Central Statistics Office (CSO) data released on Friday (July 12th) showed core national income (GNI*) up 5% in real...
Budget 2025 package of €8.3bn
Yesterday’s Summer Economic Statement flagged an overall package of €8.3bn for Budget 2025 in October. Once again, the government plans to exceed its own spending rule, and this...
Buoyant tax receipts signal rapid economic growth
Ireland’s public finances remain strong this year. Buoyant tax revenues suggest an acceleration of economic growth in Q2. Excluding corporation tax, core tax receipts grew 7.5%...
Irish residential property prices rise for the first time in six months
Yesterday’s Residential Property Price Index (RPPI) for June rose by 0.6%, the first gain since December after five consecutive months of decline. Prices rose by 0.3% in Dublin, breaking...
Irish Construction PMI falls to 45.6 in July
This morning’s Irish Construction PMI at 45.6 in July, signalling a fresh contraction after stability in June, is surprising. The readings are not consistent with the recent pick-up in...
Residential property price and mortgage approvals data point to resilient Irish housing market
Taken together, this morning’s Banking & Payments Federation Ireland (BPFI) mortgage approvals data and yesterday’s Residential Property Price Index (RPPI) point to the resilience of...
Irish Construction PMI points to activity improving in H2
This morning’s Irish Construction PMI at 49.4 in May is still below the 50 no-change level but suggests that activity will pick up in the coming months. New orders rose for a fourth...
Services inflation stays high at 5.7% in June
UK consumer price inflation (CPI) grew 2% year-on-year (yoy) in June. Services inflation has been in focus ahead of the Bank of England’s next monetary policy meeting on August 1st....
UK GDP beats expectations for May
UK GDP bounced back from a weaker April, with month-on-month (mom) growth of 0.4% in May. This was double the consensus expectation for growth of 0.2%. At face value, there is no...
UK PMI surveys point to recession in H2 2023
Last week’s flash UK composite PMI at 46.8 in September shows the clear risk of recession in H2 2023, on past form consistent with a 0.4% quarterly fall in GDP. Worryingly, the PMI...
Bank of England holds rates at 5.25%
Yesterday’s (September 21st) surprise decision to hold rates at 5.25% could well reflect that the Bank of England had seen a preview of today’s PMI surveys for September. Today’s...
