Irish Economy Watch - September 2024
by AIB Treasury's Economic Research Unit
- The construction PMI rose to 50.0 in Aug, indicating stable conditions in the sector.
- Mortgage approvals fell by 2.3% YoY in the 3 mths to July. 12 mth running total rises to 42.1k.
- Consumer prices rose by just 0.1% in Aug, meaning CPI inflation fell to 1.7%, its lowest level since June 2021.
- Overall, the unemployment rate has remained quite low so far this year. It averaged 4.3% in Q1, and 4.4% in Q2.
- Total tax take up 12.6% YTD in Aug. Voted expenditure rose by 13.7% YTD, owing to increases in current and capital spending.
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