Dear Reader,

Today's overview of economic news and market action:

• Positive mood to start the week on markets …
• Oil prices fell amid Saudi price cuts …
• Some improvement in EZ sentiment data, albeit from low levels …
• Currency-wise, the main FX pairs were range bound …
• EUR/USD opens in the top half of $1.09-1.10 …
• EUR/GBP is at the 86p mark …
• GBP/USD is at the midpoint of $1.27-1.28 …
• EZ Unemployment rate (Nov) the main highlight today …

In Good Shape for 2024

The task of forecasting how the Irish economy will perform in 2024 is made all the more difficult by the contradictory indicators on its performance in 2023. 

Renewed downturn in manufacturing order books, but business optimism improves slightly

The AIB Ireland Manufacturing PMI® pointed to worsening business conditions as 2023 drew to a close, representing a setback after the stabilisation seen during November.

Service sector expansion sustained in December as business outlook for 2024 improves

The December AIB PMI® survey data signalled a further rise in service sector activity, extending the current growth sequence that began March 2021.