Irish Growth Threatened  by Housing Market Fears
Irish Growth Threatened  by Housing Market Fears

Irish Growth Threatened by Housing Market Fears

Irish Growth Threatened by Housing Market Fears

The Irish economy is experiencing mixed fortunes, with strong employment growth but high rents and a dip in consumer confidence. Unemployment in the Dublin region fell in the three months up to September.
There was strong economic growth, according to the Dublin Economic Monitor which is put together for the four Dublin local authorities by DKM Economic Consultants and KBC Bank, Yahoo reported.
But the region is being hit by a dip in consumer confidence, and rising rents and surging residential property prices. Consumers appear to be downbeat about their fortunes as they fear the negative impact of the Brexit vote and changes in US policy following the election of Donald Trump.
But cost-of-living pressures may be having an even stronger influence on consumer confidence, according to KBC Bank economist Austin Hughes. Rents are at all-time highs in the capital, with public transport and motor insurance costs also rising in the past few months.
“Dublin consumer sentiment declined significantly in late 2016 as the mood of consumers in the capital weakened notably more than that of consumers in the rest of Ireland,” Hughes said.
Consumers are nervous about Brexit and changes in the US. “However, a more influential factor was a downgrade of consumers’ own personal finances that may reflect pressure on living costs in Dublin,” he said.
Jobs are being created in the capital, with the construction and industry sectors showing the largest expansion. Unemployment in Dublin has fallen to 7.8%. The private services sector also had jobs growth, with almost 4,000 added compared with the previous year.

Short URL : https://goo.gl/PQksRb
  1. https://goo.gl/pL2qEy
  • https://goo.gl/QWe0S4
  • https://goo.gl/Fw97aZ
  • https://goo.gl/S5Yeih
  • https://goo.gl/bkOTwt

You can also read ...

Westinghouse Electric, the leading US nuclear fuel producer, said it relies on China for zirconium and zirconium powder  for use in nuclear fuel assemblies
A broad cross-section of US businesses has a message for the...
Argentina Lacks Options to Defend Peso
With interest rates sky-high and the economy heading for...
BMW Seeking Broader China Collaboration
The opening-up is an important policy and German carmaker BMW...
Turkey, Qatar in Currency Swap Deal
The central banks of Qatar and Turkey signed a currency swap...
UK Business Pessimism Rising
Business leaders’ confidence in the British economy has fallen...
Irish Economy in Post-Recovery Stage
The economy is in a strong position and has moved into a post-...
International Labor Organization has called for stronger...
Asian Countries Vie to Set Up Crypto Valleys
The race to establish cryptocurrency hubs in Asia is gathering...

Add new comment

Read our comment policy before posting your viewpoints