Economy set to grow by 3.1pc this year as recovery broadens
Releasing its forecast this morning, Ulster Bank said it expects the country’s gross domestic product (GDP) to rise by 3.1pc in 2014 as the recovery becomes “more broadly based”.
It said that this year will mark the first since 2007 that exports, consumer spending, and investment will all be growing together.
The bank said that’s an important sign that Ireland’s economic recovery is looking “more sustainable”.
Ulster Bank had previously …
Employment in manufacturing sector rises at fastest rate for 15 years
Output increased for the 12th month running, with the rate of expansion remaining sharp despite slowing from the previous month.
Higher sales was the main factor leading to an increase in production, according to the latest Purchasing Managers’ Index for the sector.
Philip O’Sullivan, of specialist bank Investec, said the report signifies another sharp monthly improvement in business conditions.
“The key highlight within the report is the employment component, which …
Wall Street banks plan move to Ireland if UK quits EU
A newspaper report has quoted sources as saying Bank of America, Citigroup and Morgan Stanley were considering Ireland as a favourable location if they needed to shift operations.
Plans are said to be at an early stage but attention is being focused amid deepening plans for a banking union and the possibility that the UK exits the European Union following a promised referendum.
Ireland could prove to be an obvious …
Fall in the number of SME businesses in growth mode
And more than 80pc of firms questioned said they were not exporting, according to the latest assessment of the SME sector from cross border development body InterTrade- Ireland.
Its Business Monitor survey for the second quarter found that the number of companies that were growing fell to 29pc between April and June compared with 37pc in the first three months of the year.
Dr Eoin Magennis, InterTradeIreland’s economist and policy research …
North 'will be able to match corporation tax in South'
NORTHERN Ireland looks set to be handed the power to slash corporation tax which will help it better compete with the Republic for inward investment.
The corporation tax rate in the North is 20pc, compared with 12.5pc in the Republic.
Businesses and political parties north of the border have been campaigning to have the rate brought into line with the Republic.
Senior sources in London and Belfast predict that an …