Archive for July 2020

HOUSEHOLD savings have hit their highest level since the last financial crisis. People spent less in the first three months of the year which meant that they put more money aside. The savings level was higher than any time in the last six years, the Central Statistics Office (CSO) said. “Household saving increased in the…

Consumer sentiment continues to lag behind business confidence, fresh data from Bank of Ireland suggests. Bank of Ireland’s regular ‘Economic Pulse’ combines business and consumer elements to track sentiment in the economy month to month. The index was up 5.5 on last month but down 21.0 compared with a year ago. Business confidence has risen…

HUGE changes to the working lives of millions of people as a result of the Covid-19 crisis show how a more innovative approach to work could benefit industry, according to a new report. The Institute for Public Policy Research (IPPR) said the UK was nearing a “pivotal moment”, when new working practices could be adopted…

Online retail giant Amazon is to create 1,000 permanent jobs in Ireland over the next two years. This will bring the company’s total workforce here to 5,000 people. The positions will be based across Amazon’s Cork and Dublin sites in Blanchardstown, Tallaght, the city centre, and north County Dublin. The roles being created will range…

The publication of the Central Statistics Office’s estimates of last year’s economic growth is normally newsworthy. But when figures appeared indicating that our gross domestic product had grown by about a quarter in 2015, it generated huge headlines, not just in Ireland but across the world. Of course, while the Irish economy performed well in…

Euro zone business activity grew in July for the first time since the coronavirus pandemic hit, as more parts of the economy that were locked down to curtail its spread reopened and people emerged from their homes to work and spend money. Across the world almost 15.5 million people have been infected by the coronavirus…

The Government has today announced the July Jobs Stimulus, a €7.4bn package of measures designed to stimulate a jobs-led recovery and build economic confidence while continuing to manage the impact of Covid-19. Launching the Jobs Stimulus, the Taoiseach, Micheál Martin TD said: The stimulus package announced today will protect existing jobs while creating new and…

DIGITAL payments company Revolut has made its child-friendly money management app available for those who use its free online current account. Up to now Revolut Junior was only an option for those paying a monthly fee for using the Metal and Premium accounts. It is now available for free to all adults who have a…

The phrase ‘the cheque is in the post’ is set to become redundant. New figures show that the use of cheques in this country has plummeted by almost half in the last four years. The pandemic has accelerated the decline in the use of cheques as contactless payments have been encouraged. In the first three…

The Government’s economic stimulus plan, which will be published today if it is signed off by the Cabinet, is a tricky exercise at a time when there is nervousness about rising numbers of Covid-19 cases. It is difficult to reboot the economy if the public remains concerned about a second wave, and no one is…