Robert Shortt

Economics Correspondent

The Central Bank expects the domestic economy to grow by just over 3% this year

Central Bank forecasts inflation to fall to 5% in 2023

Inflation is forecast to fall to 5% this year and household incomes are expected to improve, according to the Central Bank.

Business • 08 Mar 23

ECB chief economist Philip Lane today held a lecture at Trinity College Dublin

ECB to increase rates again after March meeting - Lane

The chief economist of the European Central Bank, Philip Lane, has said interest rates will have to be increased further, beyond the ECB's meeting later this month.

Business • 06 Mar 23

Software company Salesforce announced around 200 redundancies among its Irish-based workforce last month

Tech firms cut 6% of jobs created here over three years

The estimated number of job losses at tech companies here is just over 6% of the new jobs created in the sector since the end of 2019.

Business • 06 Mar 23

The ESB said it is not permitted to subsidise the prices in its Electric Ireland subsidiary with profits made in other parts of its business

ESB defends pricing approach at Electric Ireland

The ESB has defended its approach to pricing for its residential and business customers in a briefing note posted on its website.

Energy • 03 Mar 23

Modified Domestic Demand (MDD), which strips out the impact of multinationals, declined by 1.3% in the last quarter of 2022

Domestic economy in technical recession at end of 2022

The economy grew by 0.3% in GDP terms in the final three months of last year, which is markedly slower than the initial estimate of 3.5% published last month, according to figures published by the Central Statistics Office.

Business • 03 Mar 23

Donohoe said the resilience of Europe's economy in the face of the Covid crises and the Russian invasion of Ukraine was down to 'structure, stance and solidarity.'

Resilience of Europe's economy down to 'solidarity'

The Minister for Public Expenditure, National Development Plan Delivery and Reform, Paschal Donohoe has said the ability of political leaders to stand by the European Union should not be underestimated.

Business • 02 Mar 23

On a twelve-month rolling basis, the Exchequer had a €1.5 billion surplus.

Public finances show deficit of €2.5bn in February

The public finances were €2.5 billion in deficit at the end of February. However, this was due to the transfer of €4 billion to the National Reserve Fund.

Business • 02 Mar 23

The average price of wholesale electricity in the day ahead market was down 9% last month compared to February 2022, new SEMO figures show

Wholesale electricity prices down 15% so far this year

The price of traded wholesale electricity fell by 2% in February compared to January, according to the latest Monthly Market Report from the Single Electricity Market Operator (SEMO).

Business • 02 Mar 23

For the first time since the onset of the energy crisis, the annual rate of food inflation has overtaken energy inflation in the euro zone

Euro zone inflation falls less than expected

The annual rate of inflation across the euro area slowed marginally to 8.5% in February from 8.6% in January, according to an initial estimate from Eurostat.

Business • 02 Mar 23

Inflation went back up to 8% in February, compared to 7.5% in January, new CSO figures show

Inflation rises to 8% in February from 7.5% in January

The annual rate of inflation went back up to 8% in February, compared to 7.5% in January, according to an initial estimate from the Central Statistics Office.

Business • 01 Mar 23