Robert Shortt

Economics Correspondent

Global growth is set to moderate from 2.9% this year to 2.7% in 2024 before picking up in 2025 to 3%, the OECD said in its latest Economic Outlook

OECD predicts Irish economy to contract by 0.6% in 2023

The Paris-based think tank, the OECD, has forecast that the economy measured by gross domestic product (GDP) will shrink this year by 0.6%.

Business • 29 Nov 23

53% of mortgages entering arrears of between one and three months since the first half of 2022 were trackers.

Most mortgages entering arrears are trackers

New research by the Central Bank shows the majority of mortgage accounts going into default of up to three months in the past year have been trackers.

Business • 23 Nov 23

The Central Bank's latest Financial Stability Review has left mortgage lending rules unchanged

Central Bank Governor not ruling out another rate hike

The full effect of higher interest rates has yet to feed through the economy, according to the Central Bank's Financial Stability Review published today.

Business • 23 Nov 23

The CSO notes that corporation tax receipts have almost doubled from €12 billion in 2020 to €23 billion in 2022

€110 billion collected in taxes in 2022, up 17% on 2021

The Exchequer collected €110 billion in 2022 in taxes and PRSI, according to figures from the Central Statistics Office published today.

Business • 22 Nov 23

ECB Vice-President Luis de Guindos says the euro zone's outlook for financial stability is fragile

Outlook for euro zone financial stability 'fragile'

The European Central Bank has warned that the full effect of higher interest rates is yet to be felt in economies across the single currency area.

Business • 22 Nov 23

Green mortgages, where offered by financial institutions, have risen from 10% of mortgage loans in the first quarter of 2020 to 35% in the second quarter of this year.

'Green' loans account for 7.7% of outstanding mortgages

So-called 'green mortgages' or discounted rates for loans on homes with higher Building Energy Ratings (BER's) account for 7.7% of outstanding mortgages, but an increasing share of new mortgages.

Business • 20 Nov 23

(Stock image) This new auction will focus on potential projects off the south coast.

Second auction for rights to generate offshore power

The Government has announced plans for a second auction for rights to generate offshore power.

Business • 20 Nov 23

This is a set of rules governing the conduct of employees and executives in financial companies.

New accountability rules for financial firms published

The Central Bank has today published regulations and guidance for firms who have to comply with the Individual Accountability Framework (IAF).

Business • 16 Nov 23

The European Commission has predicted that the Irish economy - as measured by GDP - will fall by 0.9% this year

EU cuts Irish and euro zone growth forecasts for 2023

The European Commission has sharply revised downwards its forecasts for growth in the Irish economy measured by Gross Domestic Product (GDP), mostly due to falls in exports by multinational companies.

Business • 15 Nov 23

The annual rate of inflation slowed to 5.1% in October from a reading of 6.4% in September

Annual rate of inflation slows to 5.1% in October - CSO

The annual rate of inflation slowed to 5.1% in October, new figures from the Central Statistics Office show.

Business • 09 Nov 23