THE number of companies going out of business fell by almost a quarter in January, providing another sign that the economy has stabilised. Figures from InsolvencyJournal.ie, a website run by accountants Kavanagh Fennell, show there were 107 business failures during the first month of the year. That is 22pc lower than the 137 companies that… Read more »
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Analysis: Beware of anecdote, particularly when attempting to gauge what is going on in an economy. Statistics often get sniffed at, but the truth is that taking large samples is the only way of knowing with any accuracy what is going on in large, complex societies.
The amount of time small firms are waiting to get paid increased in the last quarter despite there being more attention than ever on the subject, a leading trade firm warned yesterday. According to ISME, its members waited an average of 71 days to be paid between October and December, up from 69 days in… Read more »
Employers’ group IBEC is forecasting economic growth of 1.8% this year, slightly above Government forecasts. In its latest economic forecast the organisation says Ireland’s economy grew by 1.2% in 2012, making it the second fastest growing economy in the eurozone.
Home-Grown companies backed by the state investment agency created 13,600 jobs last year – but they axed almost 10,000. Overall, 3,800 new positions remain at the export businesses supported by Enterprise Ireland, according to its end-of-year statement.
A pent-up demand for bankruptcies in Ireland is expected to clog up the personal insolvency service when it is finally launched at the end of March. Sources involved in the process say the demand for bankruptcy settlements is already building and dealing with these will take precedence over the other areas of the personal insolvency… Read more »
Europe’s stalled economy is not expected to get more help today from the European Central Bank. The ECB is expected to hold off cutting interest rates as it waits for financial markets to heal so that its already low benchmark rates get through to businesses and consumers.
Activity in Ireland’s services sector grew for a fifth successive month in December on the back of the biggest surge in new export orders since September 2006. The latest NCB Stockbrokers purchasing managers’ index showed new orders and new export business increased sharply at the end of last year, pointing to continued momentum in the… Read more »
Loans to companies in the euro zone extended their fall in November, underlining the bloc’s economic weakness and increasing pressure on the European Central Bank to cut interest rates further. On the year, loans to the private sector fell by 0.8 percent in November – the same drop seen a month earlier. A breakdown of… Read more »
Activity in the country’s manufacturing sector grew for the tenth month in a row in December. The NCB Manufacturing Purchasing Managers index stood at 51.4 last month. This was down from November’s reading of 52.4 but still above the key level which signifies expansion.