Archive for March 2025

New figures from the Central Bank show that the average interest rate on new Irish mortgages rose to 3.82% in January from 3.8% in December despite recent rate cuts from the European Central Bank. The Central Bank said that Ireland has the fifth highest average mortgage rates in the euro zone as the euro average…

New figures from the CSO show that the number of planning permissions granted for apartments fell by almost 39% last year when compared to 2023. The data from the Central Statistics Office shows approvals for houses was down 2.7% last year. The total number of new homes approved annually fell by 21.4% in 2024 compared…

The European Union will impose counter tariffs on €26 billion ($28bn) worth of US goods from next month, the European Commission said, ramping up a global trade war in response to blanket US tariffs on steel and aluminium. US President Donald Trump’s increased tariffs of 25% on all steel and aluminium imports have taken effect…

Almost three-quarters of Ireland’s working population would like to retire by age 60 or sooner, according to new research. The latest Retirement Aspirations survey commissioned by pension company Royal London Ireland, shows that four in ten respondents would like to retire by the age of 50 or even sooner if they could. 7% of those…

Employment fell in the construction sector last month, ending a five-month period of jobs growth. The AIB Ireland Construction PMI report in February shows staffing levels were scaled back midway through the opening quarter of the year. It comes at a time when there are significant concerns over housing output, with CSO figures showing there…

Taoiseach Micheál Martin will tell US President Donald Trump that there is a “two-way street” of investment between the US and Ireland, as a trade imbalance between the two countries looms over their upcoming bilateral meeting. Mr Trump will host the Taoiseach in the Oval Office of the White House tomorrow as part of the…

The euro zone economy grew by 0.9% in 2024, revised data showed today, higher than a previous estimate of 0.7%. The EU’s official statistics agency also revised growth for the fourth quarter of 2024 for the second time to 0.2% in the 20-country single currency area, from 0.1% estimated in February. Eurostat in January had…

More than three quarters (78%) of Irish adults are being targeted with scam text messages, emails, phone calls or online content at least once a month, according to new research by the Banking & Payments Federation of Ireland’s FraudSmart initiative. The survey of 1,000 people found mobile phones were the main channel for scam communications,…

More than half a million people are facing travel disruption at German airports today where a 24-hour strike has led to thousands of flight cancellations in a dispute about workers’ pay. The operator of Frankfurt airport, Germany’s busiest, said no passenger flights would depart from there today, with delays and cancellations also possible tomorrow. Of…

The domestic economy grew by a healthy 2.7% last year, according to the latest figures from the Central Statistics Office. Gross Domestic Product, which includes the multinationals activity, rose by 1.2% in 2024. Personal spending on goods and services, a key indicator of the domestic economy rose 2.3%, while wages grew by 2.9%. Modified investment…