Author: Patrick Mullane
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Weekly Round Up
EU/US trade statement provides some clarity for Ireland
Last week’s EU/US statement on the trade deal agreed in July provided a little more clarity, but left many questions unanswered. Crucially for Ireland, US pharmaceutical tariffs remain at zero, with the US accepting the 15% ‘all-inclusive’ rate on EU exports will apply as a ceiling, if tariffs are imposed following the current Department of […]
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Weekly Round Up
Irish employment at record high
Employment grew by 2.3% year-on-year (y-o-y) in Ireland in Q2 2025 taking the number employed to over 2.8m, a new record high. While quarterly growth was very modest, at just 0.1%, this followed a strong 1.1% quarterly increase in Q1. Job gains were broad based, though employment in 4 of the 14 sectors fell in […]
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Weekly Round Up
Housing completions bounce back to 16-year high
This morning’s CSO data show that there were 9,214 residential completions in Q2 2025, up 35% on the year. This brings completions to 32,717 over the past 12-months, the highest level since2009. The disappointing 30,200 out-turn in 2024 was primarily due to volatile, lumpy apartment completions figures, which bounced back in Q2. The bigger picture […]
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UK Infographic
UK Infographic – July 2025
We expect UK GDP will increase by 1.1% in 2025 and 1.3% in 2026. Download the UK Infographic in full here: Bank of Ireland UK Infographic July 2025
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UK Outlook
UK Outlook – July 2025
Growth outlook broadly unchanged Our forecasts are largely unchanged compared to our last Outlook in May amidst ongoing global trade uncertainty. We expect moderate slightly below trend GDP growth of 1.1% this year (a minor tweak from our prior forecast of 1.0%) and 1.3% next year (unchanged). Unemployment is set to continue edging upwards to […]
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Weekly Round Up
The Art of the Deal
Time will soon start counting down to the August 1st self-imposed deadline for the EU & US to secure a trade deal. The stakes certainly seem high. Should the negotiations fail the US has threatened to impose 30% tariffs on Europe (10% currently), the EU preparing retaliatory measures hitting €94bn of goods imports and targeting […]
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Ireland Infographic
Ireland Infographic – July 2025
We expect GDP will expand by 8.1% in 2025 and by 3.2% in 2026. Download the Ireland Infographic here: Bank of Ireland Ireland Infographic July 2025
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Ireland Outlook
Ireland Outlook – July 2025
New Ireland Economic Forecasts Our new forecast is for 8.1% GDP growth in 2025, slowing to 3.2% in 2026. These upward revisions reflect the surge in exports and multinational output over the past 12-months, but also buoyant consumer and public spending. Our forecast for modified domestic demand has been revised up slightly to 2.9% growth […]
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Weekly Round Up
Spending on Bank of Ireland Credit/Debit cards up 5.7% in June
The latest Bank of Ireland credit/debit card data show spending was up 5.7% in June, still well ahead of CPI inflation at 1.8%, indicating substantial real price adjusted gains for Irish households. Clearly, there has been little impact from any Trump-tariff related uncertainty and the recent dip in consumer confidence. Holiday related spending was up […]
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Daily blog
Oil and dollar rally somewhat following US strikes on Iran
The euro was trading above $1.15 for much of Friday, on news – at that time – that the US might be delaying any direct attack on Iran. However, that proved to be a false flag as the US did strike at nuclear sites in Iran over the weekend. That saw the dollar open this week […]