Economic Debt & Credit Research
Irish manufacturing PMI dips in October
This morning’s Irish manufacturing PMI suggests that activity dipped slightly in October, with the headline index falling to 54.4 from 55.4 – the weakest month since March. Output was...
Political unrest has little impact on Eurozone surveys
Yesterday’s European Commission sentiment surveys beat expectations once again, with the main Economic Sentiment index rising to its highest level since 2001. The surveys suggest that...
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 Government finances on track ahead of vital November returns
Exchequer returns data for October show that government finances are broadly on track to hit Budget targets in both revenue and expenditure. However, the key month in the final... ...
Irish economy Unemployment falls to 6%
Today’s unemployment data show that the headline rate fell to 6% in October from 6.1%, the lowest rate since June 2008. The number of unemployed was down 26,800 on the year, a 17%... ...
Irish economy Retail sales growing strongly
Today’s CSO release shows that core retail sales grew strongly in September, up 1.4% on the month and 7.7% year-on-year (yoy). Aside from volatile motor trades and fuels, retail... ...
Irish economy Irish house price inflation at 12% in August
Today’s Residential Property Price Index (RPPI) shows another sharp 2.2% rise in August, with annual inflation now at 12.2%, broadly spread across Ireland. Underlying double-digit house... ...
First rate rise in a decade but gloomy outlook for UK growth
There were few surprises today as the expected 25bps hike and conditional future rate path were in line with expectations — that is for one further rate hike by end 2018. However,...
Decision day for the Bank of England
The main focus for investors today will be the Bank of England rate decision and Inflation Report. With a rate hike all but a done deal today, attention will focus on the guidance for...
UK GDP growth boosted by industry
On October 25th, UK GDP slightly beat expectations, rising 0.4% on the quarter and 1.5% on the year. With services growth steady, the bounce back in industry helped boost growth on...
Lending survey shows consumers taking little heed of Brexit
On October 24th, the Irish Bank Lending survey showed household demand for mortgage loans and consumer credit rising in Q3 2017 and it is expected to increase in Q4. Credit standards...