Construction to grow 15% but still far behind bubble levels, says consultant
The construction industry’s rebound is set to deliver growth of up to 15% this year and talk of a bubble is premature, according to a leading construction sector consultancy firm.
The strong growth patterns of the past 12 months are likely to continue this year with growth accelerating as a result, AECOM predicts in its annual review.
This strong pick-up will deliver growth of 12% to 15% following a rise …
Domestic consumption to take reins of growth from exports
The Irish economy will post another year of strong growth in 2014 on the back of more robust levels of investment, combined with a recovery in domestic consumption, according to the ESRI’s spring quarterly economic commentary, which was launched yesterday.
The ESRI forecasts GNP to grow by 4.1% in 2015 and by 3.5% in 2016. GNP is considered a more accurate reflection of the domestic economy, as it strips out …
Eurozone business activity rises amid ECB easing
Eurozone businesses ramped up activity this month as the European Central Bank started printing money to spur economic growth, while a slowdown among Chinese factories fuelled expectations of more monetary stimulus.
US manufacturing activity growth also edged up despite a stronger US dollar and the threat of an interest rate rise from the Federal Reserve later this year.
The eurozone Composite Flash Purchasing Managers’ Index (PMI) from data vendor Markit, …
Irish are smiles ahead of Greeks in EU happy league
We have the fastest growing economy in Europe and there may be clear signs that the recovery is bedding in. To top that, it appears that we are among the happiest in Europe. After years of crisis, rising unemployment and harsh austerity policies, citizens across the European Union were asked a simple question: Overall, how satisfied are you with your life these days?
The data dates back to 2013, and …
European stocks headed toward their highest level since 2000
European stocks headed toward their highest level since 2000 after the Federal Reserve said data indicated economic growth has moderated, fueling speculation it won’t be in a rush to raise interest rates.
All 19 industry groups on the Stoxx Europe 600 Index advanced, led by miners.
BHP Billiton added 1.9 per cent, and Rio Tinto Group gained 1.4 per cent as industrial metals traded higher.
One quarter of Irish workers paid below living wage
One-in-four Irish workers are earning less than the living wage threshold with female employees the worst affected, according to a study conducted by the Nevin Economic Research Institute.
The report found that 345,000 employees are on less than €11.45 per hour with female employees accounting for 60% of the total.
Some 30% of the Irish workforce earns less than €12.20 per hour, which is the EU low-pay threshold.
Europe takes aim at member states’ tax agreement with multinationals
Multinationals will no longer be able to avoid paying tax by playing one country off another, under new rules drafted by the European Commission.
Every three months, EU countries will be compelled to send one another outlines of any special tax deals they have agreed with cross-border companies.
Countries can then ask for additional details to see if the agreement has implications for them.
Economic growth must be backed by balance and respect
A powerful and positive dynamic is underway in the economy.
It offers the prospect of improving conditions for employees and citizens across the State but must be considered against the backdrop of our experience through the great global financial crisis during 2008-10.
The good news first. Irish economic momentum is picking up. You can see it anecdotally on the roads as traffic levels recover but the statistics are even more …
Euro prices remain stable
A sharp fall in the price of fuel and heating oil pulled down consumer prices in the eurozone as expected in February, but core inflation, which excludes the volatile energy component, edged higher, Eurostat data showed yesterday.
Eurostat, the EU’s statistical division, said consumer prices in the 19 countries sharing the euro currency rose by 0.6% on a month-on-month basis, making for a 0.3% year-on-year fall, less sharp that a …
Thousands to protest against austerity at ECB HQ
Thousands of people are expected to march in Frankfurt on Wednesday to protest against austerity policies they blame on the European Central Bank, as the ECB inaugurates its new high-rise headquarters.
The gathering follows protests in Cyprus outside a meeting of the ECB’s decision-making Governing Council and marks dissatisfaction with the powerful institution, which has sought to distance itself from political wrangling in the eurozone.
“The main reason for the …