Business News

Banks predict biggest ever fall in demand for loans due to Covid-19

14th May 2020

Irish banks expect the “biggest ever decrease” in the demand for mortgages and consumer loans as a result of the impact of the Covid-19 pandemic.  That is one of the results from analysis of the quarterly Bank Lending Survey published by the Central Bank today.  The Central Bank said the fall in demand will be […]

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Banks predict biggest ever fall in demand for loans due to Covid-19

14th May 2020

Irish banks expect the “biggest ever decrease” in the demand for mortgages and consumer loans as a result of the impact of the Covid-19 pandemic.  That is one of the results from analysis of the quarterly Bank Lending Survey published by the Central Bank today.  The Central Bank said the fall in demand will be […]

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US Fed chair warns of ‘extended period’ of weak growth, calls for additional fiscal spending

14th May 2020

In a sober review of where the US economy stands on the cusp of its reopening, US Federal Reserve chair Jerome Powell has warned of an “extended period” of weak growth and stagnant incomes, pledged to use more of the central bank’s power as needed, and issued a call for additional fiscal spending. “It will take […]

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US Fed chair warns of ‘extended period’ of weak growth, calls for additional fiscal spending

14th May 2020

In a sober review of where the US economy stands on the cusp of its reopening, US Federal Reserve chair Jerome Powell has warned of an “extended period” of weak growth and stagnant incomes, pledged to use more of the central bank’s power as needed, and issued a call for additional fiscal spending. “It will take […]

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Residential property prices up 1% in March, before Covid-19 impact

14th May 2020

New figures from the Central Statistics Office show that residential property prices increased by 1% nationally in the year to March.  The CSO said this compares with an increase of 1% in the year to February and an increase of 3.8% the same time last year. Today’s figures lag a coronavirus-related collapse in housing transactions. […]

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Residential property prices up 1% in March, before Covid-19 impact

14th May 2020

New figures from the Central Statistics Office show that residential property prices increased by 1% nationally in the year to March.  The CSO said this compares with an increase of 1% in the year to February and an increase of 3.8% the same time last year. Today’s figures lag a coronavirus-related collapse in housing transactions. […]

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Online retailers saw 60% rise in traffic last week

13th May 2020

There was a dramatic increase in traffic for online retailers compared to pre-Covid levels in the last week, as stores remained shut and consumers enjoyed some retail therapy online. New data compiled by digital agency Wolfgang Digital found that between May 4 and 10, internet traffic rose by 60%, and online revenues were up 162%. […]

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“Very likely” IMF will cut growth forecasts further

13th May 2020

International Monetary Fund Managing Director Kristalina Georgieva said it was “very likely” the Fund would cut global growth forecasts further as the coronavirus pandemic was hitting many economies harder than previously projected. “Incoming data from many countries is worse than our already pessimistic projections,” Georgieva said during a webcast conference sponsored by the Financial Times. […]

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40% more rental properties available compared to April 2019, report shows

13th May 2020

Rents fell by 2.1% on average last month compared to March, reflecting the economic fallout from the Covid-19 pandemic. This represents the biggest monthly fall in rents since March 2009. The average monthly rent nationwide stood at €1,418 in the first quarter of 2020, the figures show. The latest Rental Report by Daft.ie also shows the number […]

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Slight fall in number of Pandemic Unemployment Payments

12th May 2020

The number of people receiving the Covid-19 Pandemic Unemployment Payment (PUP) has fallen slightly for the first time since it was launched on 16 March. 589,000 people will receive the €350 payment this week, a decrease of 9,000 compared to last week. However, it is believed that some of the fall is due to employers re-hiring […]

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