Irish Economic Indicators

Irish Services PMI rises to 56.3 in July

This morning’s Irish Services PMI, at 56.3 for July, is something of a relief given the abrupt slowdown now underway in Europe and the UK. Irish services sector firms reported a sharp...

Irish manufacturing PMI falls to 51.8 in July

The Irish manufacturing PMI at 51.8 in July clearly points to momentum being lost in the sector, accompanied by a marginal decline in output. However, Ireland’s manufacturing PMI paints a...

Irish retail sales fall sharply for second consecutive month

Irish retail sales volumes contracted for a second consecutive month in June, with core sales down 2.2% – albeit up 0.5% in Q2 2022 versus Q1 due to the post-pandemic rebound. However,...

Ireland’s housing market still very hot in Q2 2022

Yesterday’s (July 12th) Residential Property Price Index (RPPI) showed the Irish housing market was still very hot in Q2, with prices up 0.8% in May and April’s gain revised up to 0.4%...

Irish Construction PMI signals contraction in activity

This morning’s Irish Construction PMI at 46.4 in June points to a contraction in the sector for the first time since the pandemic, attributed to falling orders as cost pressures have...

Irish Services PMI slows to 55.6 in June

This morning’s Irish Services PMI at 55.6 in June still points to a robust pace of growth, but it is down from 60.2 in May and the weakest reading since December. However, the reading...

Irish retail sales flat in May

Irish retail sales were flat in May but followed a 4% gain in April and are up 3.5% over the past three months. It is still too early to gauge if a marked slowdown in consumer spending is...

Irish business and consumer confidence slip in June

This morning’s Bank of Ireland Economic Pulse survey shows business and consumer confidence slipped in June. This perhaps isn’t surprising given the prospect of European Central Bank...

Irish CPI inflation rises to 7.8% in May

Yesterday’s (June 9th) CPI data showed inflation accelerating to 7.8% in May. We expect the peak will be close to 8.5% in June when the full impact of higher energy prices is taken on...

Irish GDP forecast to be revised up after sharp bounce in Q1

Irish GDP saw a stronger-than-expected 10.8% bounce back in Q1 2022 due to the volatile multinational sector. Despite a 0.7% fall in consumer spending, indigenous sectors hit by COVID-19...