Government Finance Statistics Report
A report from the Central Statistics Office (CSO) shows at end Q2 2014, Ireland’s Government deficit fell to 3.8% of gross domestic product in the second quarter of 2014 with Government Debt at 116.7% of GDP.
PMI reports increase in construction activity
The September construction PMI (purchasing managers’ index) shows house-building activity grew at its fastest rate since 2000. The report posted 61.5 in September, broadly unchanged from the reading of 61.4 in August and thereby signalling a further strong rise in activity at Irish construction firms.
SFA calls for cut in capital gains
The Small Firms Association (SFA) has called for a cut in capital gains tax as part of next week’s Budget. The body said the rate should drop to 10% for entrepreneurs selling businesses, which would bring it in line with Britain’s levy. It also wants the general GCT rate to fall to 20%.
Hibernia Reit seeks €300m to fund further commercial property deals
Irish property investment company, Hibernia Reit has said yesterday it intends to raise €300 million in a placing and open offer of shares to fund further commercial property deals. The company plans to fund further property investments comprising both new acquisitions and capital expenditure on its existing portfolio from the funds raised.
Ibec predicts GDP growth of 6.1% for this year
Ibec, the group that represents Irish business, today published its new Quarterly Economic Outlook which is forecasting GDP growth to reach 6.1% on the back of a broad-based recovery in the economy, which includes a 1.5% increase in consumer spending, a 14.2% increase in investment and a 12.2% increase in exports this year.
Spar to open 50 new stores with creation of 1,000 jobs
The BWG group, the owners of SPAR, are to invest €100m in store development over the next five years. The investment will see 50 new stores open around the country between now and 2016 with the creation of approximately 1,000 jobs.
