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New data indicates an accelerated decline in Irish construction activity in July, as demand fell sharply amid strong inflationary pressures. In turn, firms scaled back their purchasing activity and took a cautious approach to hiring, according to the latest BNP Paribas Real Estate Ireland Construction PMI. It shows companies were pessimistic towards the 12-month outlook…

Oil prices rose by about 1% on Tuesday, erasing earlier losses, as the market awaited clarity on talks to revive a deal that could allow more Iranian oil exports, and bleak economic data from top crude buyer China limited gains. Brent crude futures rose 72 cents, or 0.8%, to $95.82 a barrel by 1219 GMT,…

Inflation and the shortage of talent are the two biggest concerns facing Irish businesses in the coming year, according to a new survey of executives here. Research by business law firm Mason Hayes & Curran and the Irish Management Institute found that 85% of firms see higher costs as having the greatest impact on their…

Public transport journeys and car traffic volumes in July were still below pre-pandemic levels. New data from the Central Statistics Office (CSO) show that public transport journeys in the week beginning 25 July 2022 were 80% of the number taken in the first week of March 2020. Bus journeys in Dublin were 78% of pre-Covid…

Consumer prices rose by 9.1% in the year to July, the same level of inflation as in June, the latest Central Statistics Office figures show today. This marked the first time since the start of the year that price growth has not accelerated on a year-on-year basis, the CSO figures show. Inflation is standing at…

The value of services increased by 2% in June when compared to the previous month, according to new figures from the Central Statistics Office (CSO). The biggest monthly increases were recorded in the value of information and communication services, and accommodation and food services. Decreases were recorded in transportation and storage, other service activities, and…

More than two thirds of consumers are being put off buying sustainable goods due to the rising cost of living, according to a report by EY. Its survey of 18,000 global consumers found that nearly 80% were concerned about their finances, while more than 60% expected their living costs to rise further in the coming…

Mainstream Renewable Power is to create 100 jobs in Dublin as it looks to develop three offshore wind energy projects in Ireland. The renewable energy firm is conducting early stage development activity in sites on the east, south-east and west coasts of Ireland, with “significant offshore wind energy developments” planned for each location. This would…

The value of goods exported from Ireland rose by 31% in the first half of the year as the recovery from the pandemic gathered pace, new figures from the Central Statistics Office show. In total, goods worth €105bn were exported, up by €24bn on the same six-month period last year, marking a record first half…

Despite the warmer weather, Ireland’s gas demand in July was up 5% on the previous month, according to new figures from Gas Networks Ireland. When compared to the same month last year, when public health restrictions were in place, demand was up 10%. Gas demand increased by 95% in the air travel sector when compared…