Irish Economic Indicators

March exchequer returns show €2bn hit from COVID-19 measures

Today’s exchequer returns show a €2bn hit from COVID-19 on the public finances in March through extra health spending and social welfare payments and a fall in VAT receipts. The 50%...

Budget surplus of 0.4% of GDP expected after buoyant tax returns

Given today’s buoyant exchequer returns, with corporate taxes €748m ahead of target, the Minister for Finance has revised up his forecast for a surplus of €1.4bn (0.4% of GDP) in...

Irish housing starts surge to 26,000, up 33% in Q3 2019

This morning’s Irish housing starts data have beaten all expectations, showing 7,596 commencements in Q3 2019 – up 33% on the year; the 2,648 in Dublin were up 27%. There have been...

Irish government set to beat its Budget surplus target for 2019

Although spending pressures should emerge in the final two months of 2019, we still believe today’s exchequer returns show the government on track to record a surplus well in excess...

Exchequer Returns show tax revenues up 12% on the year

Today’s exchequer returns show buoyant tax revenues, up 12% to €5.7bn, with income taxes, VAT and corporation taxes all up sharply on the year. Minister for Finance Paschal Donohoe...

Exchequer returns reassure but Brexit is key for Budget 2020

August’s extra returns suggest that there might be a little more leeway in Budget 2020, with tax revenues €120m ahead of target and spending inside expenditure plans. However, the...

Corporation tax receipts bounce back in June

The key news in June’s exchequer returns was a strong performance from corporation taxes — June is a key month for revenue collection with €2.4bn received, 7.9% better than...

Exchequer returns disappoint in May

The big news in May was a large shortfall in corporate tax revenues, which could be a timing issue. Thankfully, Central Bank surplus income and spending inside generous government...

Irish employment surges in early 2019

Today’s Labour Force Survey indicates that employment rose by 1.5% in Q1 2019, up 3.7% on the year, with the unemployment rate falling to 4.6% in April. This is a far stronger pace than...

A poor April for public finances but still €42m ahead of Budget target

April was a poor month for tax revenues at 6% the monthly target, but on the back of volatile value added tax and corporation tax repayments that tell us little about underlying...