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Euro zone Q4 GDP confirmed flat on a quarterly basis

15th February 2024

Euro zone economic growth was flat in the last three months of the 2023 against the previous quarter and up 0.1% against the same time in 2022, Eurostat said today, confirming its earlier preliminary estimate. After euro zone output contracted 0.1% quarter-on-quarter in the third quarter, the result for the last three months is a […]

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Germany overtakes Japan as world’s third-biggest economy

15th February 2024

Once forecast to become the world’s biggest economy, Japan slipped below Germany last year to fourth place, official data showed today, although India is projected to leapfrog both later this decade. Despite growing 1.9%, Japan’s nominal 2023 gross domestic product in dollar terms was $4.2 trillion, government data showed, compared with $4.5 trillion for Germany, […]

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Romance fraud warning as €7m stolen over five years

14th February 2024

People have been urged to beware of romance scams and criminals who are seeking to take advantage of the increased popularity of dating apps this St Valentine’s Day. More than €7 million has been stolen from the victims of romance fraud in the past five years, according to gardaí. The majority of the 245 victims […]

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US consumer prices rise more than expected in January

14th February 2024

US consumer prices increased more than expected in January amid rises in the costs of housing and healthcare, but the pick-up in inflation likely does not change expectations that the Federal Reserve will start cutting interest rates in the first half of this year. The US consumer price index increased 0.3% last month after gaining […]

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Government approves public sector pay deal

14th February 2024

The Government has given formal approval to the public sector pay deal agreed last month. Following negotiations at the Workplace Relations Commission (WRC), unions, staff associations and government representatives reached agreement on a package that provides for increases of 10.25% over a two and a half year period. The agreement will cost around €3.6 billion […]

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Labour and materials continue to drive construction costs higher

13th February 2024

Labour and raw material costs continue to drive pricing higher in the construction sector, new research has found. The Construction Industry Federation Construction Outlook Survey for the first quarter of the year found two thirds of respondents saw labour costs rise year on year and 60% saw raw materials increase. More than half of the […]

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Contraction in construction at lowest level since October

13th February 2024

Construction activity contracted for the seventh consecutive month in January, but by the smallest amount since October. Housing activity, while reducing further, slowed by the least extent since September, the BNP Paribas Real Estate Ireland Construction Purchasing Managers Index found. “The relative outperformance of residential reflects the strength of the new homes market where consumers […]

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New plan aims to improve childcare policy for parents and providers

13th February 2024

Chartered Accountants Ireland has outlined a plan aimed at improving childcare policy for the benefit of both providers and parents. The institute has proposed a series of steps which it said could leave working parents up to €4,500 a year better off and free up vital working capacity in the economy. Its paper ‘Supporting Working […]

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Oil prices slip after rally last week on Middle East, tight supply

12th February 2024

Oil prices slipped today as investors indulged in some profit-taking after both benchmarks ended last week about 6% higher on Middle East tensions and as refining outages squeezed refined products markets. Brent crude futures were down 82 cents, or about 1%, at $81.37 a barrel, while US West Texas Intermediate crude futures slipped 74 cents, […]

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Advertising spend predicted to grow 4.1% in 2024 – Core

12th February 2024

Advertising spend is predicted to grow by 4.1% this year, according to marketing advisory firm Core. That marks a slightly slower pace of growth than the 4.6% seen in 2023, however it would bring the total amount spent here to €1.534 billion. The majority of that money – 64% – is going towards digital channels, […]

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