Business News

Activity in the construction sector contracted more sharply in April than in the previous month as the industry continues to struggle. The BNP Paribas Real Estate Ireland Construction PMI found a slowdown in new orders, as well as in employment and input buying. It was the seventh successive reduction in total activity in the sector…

The shortage of housing and a lack of transport options are among a range of barriers preventing young people from finding jobs and entering the labour market, a conference has heard today. The ESRI hosted a conference today on youth employment and highlighted other barriers such as substance use, homelessness, education, mental health and physical…

New figures from the Central Statistics Office show that inflation fell to 7.2% in the 12 months to April, down from 7.7% in March. This marked its lowest level in a year. The CSO said the most significant increases in the year were seen in the costs of Housing, Water, Electricity, Gas and Other Fuels…

Generational differences in investment behaviour among consumers in Ireland has been highlighted in a survey by Banking & Payments Federation Ireland. It found that younger people more likely to invest in cryptocurrencies and invest online, and under 35s are more likely to seek information about investments through informal channels such social media or friends and…

Supermarkets should be treated like energy companies and subject to a windfall tax if they are found to be profiteering, according to Labour’s finance spokesperson. Ged Nash said the Government is “flailing” in its efforts to force supermarkets to cut prices. His comments come after supermarket chains reduced prices on their own brand bread and…

The Government has no plans for any “legislative intervention” to reduce the cost of groceries, Tánaiste Micheál Martin has said. It comes after the Competition and Consumer Protection Commission (CPCC) warned the Government not to introduce price controls. The Taoiseach told the Dáil that the CPCC had cautioned strongly against the move in preliminary advice…

Foreign direct investment into Ireland jumped by 21% last year, according to a new analysis. The EY European Attractiveness Survey shows that 184 new and expansion projects were announced during the year, up from 152 the previous year. This puts Ireland in the top ten most attractive locations for investments across Europe, the report claims.…

The Taoiseach has said debt reduction, increasing some of the capital budgets, and the establishment of a new sovereign wealth fund, are among the options being considered for using expected surpluses in the public finances. Leo Varadkar said: “We have an aging population and a growing population. While we might be in surplus now, that’s…

The number of domestic gas customers falling into arrears has increased from 20% to 23% in the first quarter of 2023. However, the number of domestic electricity customers in arrears dropped from 11% to 9% over the same period. The number of domestic gas customers in arrears at the end of March stood at 160,399,…

Representatives of large supermarkets chains, smaller shops and the grocery industry are due to attend a meeting of the Retail Forum at the Department of Enterprise later today, to discuss the continued high cost of groceries despite a general decline in inflation. Retailers are expected to say that their costs remain high, and that price…