European Union spending will total €135.5 billion in 2014 under a deal reached by EU negotiators today, which included extra funds to fight soaring youth unemployment in the 28-nation bloc.
Posts Categorized: Syndicated News
New figures today show that a total of 4,482 new mortgages – worth €750m – were drawn down by borrowers in the third quarter of this year.
Household debt has fallen to its lowest level in almost seven years, according to figures from the Central Bank. Debt levels fell €1.7 billion in the second quarter of 2013 to €170.3 billion, according to the authority’s latest quarterly financial accounts, putting it at its lowest level since the second half of 2006.
The country’s services sector grew rapidly in October thanks to the fastest rise in new business in over six years. The Investec Purchasing Managers’ Index (PMI) of services sector activity rose for the 15th month in a row to 60.1 in October, up from 56.8 in September.
The European Commission has revised downwards its predictions for Irish economic growth for this year and next, mainly due to weaker than expected exports and domestic demand. In its latest Autumn forecast, the Commission predicts that the Irish economy – as measured by GDP – is expected to grow by 0.3% this year, by 1.7%… Read more »
The country’s services sector grew rapidly in October thanks to the fastest rise in new business in over six years. The Investec Purchasing Managers’ Index (PMI) of services sector activity rose for the 15th month in a row to 60.1 in October, up from 56.8 in September. That was far above the 50 mark that… Read more »
The euro will appreciate at a record pace this year and continue to gain in 2014, the European Commission said today, potentially complicating the euro zone’s export-based recovery.
Increased prospects of a European Central Bank interest rate cut this year sent the euro to a six-week low on Monday and boosted the region’s share markets, which extended gains on robust manufacturing data.
Euro zone manufacturing activity accelerated in October as new orders increased for the fourth month in a row. However strong competition left factories with little room to raise prices, a survey showed today.
This week is a “very poor week for Irish banking”, according to an organisation which provides free legal representation for mortgage holders in arrears. Vincent Martin co-founder of New Beginning said the new insolvency regime “is the only comfort” this week because it will provide “a chance for ordinary debtors to recover”.