Davy Research

Irish Economic Indicators

Irish Economic Indicators

Labour market recovery continues apace

The labour force survey shows another strong increase in employment in Q1 2018, up 0.7% on the quarter and 2.9% on the year. In absolute terms, the number of people at work has...

June 20 2018 | David McNamara | Research Report | 4 pages

Planning permissions rise by 81% in Q1 2018

The planning permissions data show a surge to 8,405 units in Q1 2018, up 81% on the year. Permissions granted for apartments are up very sharply, by 178% on the year. In total,...

June 15 2018 | Conall MacCoille | Research Report | 4 pages

New housing series brings clarity to the supply-side debate

The publication by the Central Statistics Office (CSO) of a new housing completions series brings much-needed clarity to the debate on the level of housebuilding in Ireland. The number...

June 14 2018 | David McNamara | Research Report | 4 pages

Property price inflation continues to accelerate

Residential property price inflation accelerated to 13% in April from 12.6% in March, according to the latest CSO data. While this series suggests tighter mortgage lending rules have yet...

June 13 2018 | David McNamara | Research Report | 4 pages

Construction sector moves into high growth phase

Irish construction output rose sharply in Q1 2018, according to the latest CSO data. Output was up 7.4% on the quarter and 21% on the year. The substantial increase must be placed in...

June 8 2018 | David McNamara | Research Report | 4 pages

Irish unemployment falls to 5.8%

Irish unemployment continued to decline in May, reaching a cycle trough of 5.8%. That is the lowest rate since April 2008, but the key difference between today and a decade ago is the...

June 6 2018 | David McNamara | Research Report | 4 pages

Public finances still evolving broadly in line with Budget targets

May’s exchequer returns show the public finances pretty much in line with Budget projections for a deficit of €800m, or 0.2% of GDP, in 2018. The waters have been muddied by the...

June 5 2018 | Conall MacCoille | Research Report | 4 pages

Retail sales bounce back in April as pay growth accelerates to 2.4%

The bounce-back in April’s retail sales (up 1.5%), after disruption from poor weather, was expected. The 4.8% annual increase reinforces our view that consumer spending will grow 3.2% in...

May 28 2018 | Conall MacCoille | Research Report | 4 pages

Robust house price inflation in first quarter

Today’s Residential Property Price Index (RPPI) shows another sharp 0.8% gain in March, with annual inflation accelerating to 12.7% from 12.5% in February. In Dublin, inflation eased to 12.1%...

May 9 2018 | David McNamara | Research Report | 8 pages

Tax revenues still behind government targets

April’s exchequer returns indicated a slight deterioration in the budgetary position. The government balance was €340m (0.1% of nominal GDP) behind Budget forecasts. However, this mainly...

May 2 2018 | Conall MacCoille | Research Report | 4 pages

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ECONOMIC CALENDAR

June 25 2018

  • GER : IFO current assessment, June
  • GER : IFO expectations, June
  • GER : IFO business climate, June
  • US : New home sales, May

June 26 2018

  • UK : CBI total dist. reported sales, June
  • UK : CBI retailing reported sales, June
  • US : Consumer confidence, June

June 27 2018

  • US : Durable goods orders, May

June 28 2018

  • EU : Business climate indicator, June
  • EU : Consumer confidence, June
  • US : Initial jobless claims, June 23
  • US : GDP annualized, Q1

June 29 2018

  • IRE : Credit aggregates, June
  • UK : Mortgage approvals, May
  • US : Personal spending, May
  • US : Chicago purchasing manager, June
  • US : University of Michigan sentiment, June

July 2 2018

  • EU : Markit eurozone manufacturing PMI, June
  • UK : Markit UK PMI manufacturing, June
  • US : ISM manufacturing, June

July 3 2018

  • IRE : Unemployment rate, June
  • IRE : Exchequer Returns, June
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