Irish Economic Indicators
Ireland’s Exchequer begins to receive back-taxes from Apple
While October is not a crucial month for the Irish Exchequer, volatility of recent years continued with a near-trebling of corporation tax. This was driven by the first arrival to the...
Revising down our housing completions forecast for 2024
Despite an improvement on H1 2024, this morning’s update for housing completions in Q3 marks an inopportune pre-election result for the government. Output over the past four quarters...
Tax receipts continue to signal rapid economic growth
September’s tax receipts continue to support our view that the economy is on course to grow by at least 4.5% this year. However, the expansionary nature of Budget 2025 and higher...
Irish residential property prices rise for the first time in six months
Yesterday’s Residential Property Price Index (RPPI) for June rose by 0.6%, the first gain since December after five consecutive months of decline. Prices rose by 0.3% in Dublin, breaking...
Irish Construction PMI falls to 45.6 in July
This morning’s Irish Construction PMI at 45.6 in July, signalling a fresh contraction after stability in June, is surprising. The readings are not consistent with the recent pick-up in...
Residential property price and mortgage approvals data point to resilient Irish housing market
Taken together, this morning’s Banking & Payments Federation Ireland (BPFI) mortgage approvals data and yesterday’s Residential Property Price Index (RPPI) point to the resilience of...
Irish Construction PMI points to activity improving in H2
This morning’s Irish Construction PMI at 49.4 in May is still below the 50 no-change level but suggests that activity will pick up in the coming months. New orders rose for a fourth...
Irish residential property prices fall for third successive month
We had flagged that Irish residential property prices would likely fall in early 2023, so the 0.6% decline in the Residential Property Price Index (RPPI) in March is not a surprise. Given...
Irish Construction PMI at 48.4 in April
This morning's Irish Construction Purchasing Managers’ Index (PMI) at 48.4 signals another contraction in activity, despite small rises in employment, new orders and purchasing activity...
Irish Manufacturing PMI falls to 48.6 in April
This morning’s manufacturing PMI at 48.6 in April shows the sharpest decline in output since November, the sector being affected by the broader downturn in Europe. However, firms are...
