Dear Reader,

Today's overview of economic news and market action:

• Quiet start to the week on financial markets continued …
• Currency-wise, the price action was muted …
• Of the limited moves to register, the euro was holding a slightly softer tone …
• This sees EUR/GBP back nearer the midpoint of 85-86p …
• EUR/USD is back below operating back below the $1.09 threshold …
• GBP/USD is changing hands up at the $1.27 mark …
• US Fed meeting minutes due later today …

Substantial growth in the Irish service sector in June

Supported by buoyant demand conditions, Irish service providers registered another marked improvement in the health of the sector during June, latest AIB PMI® survey data showed

Challenging outlook for the global economy

Rampant inflation, aggressive interest rate hikes by Central Banks and elevated geopolitical tensions saw global economic growth slow notably over the course of 2022. However, looking back over the first six months of 2023, many of the key advanced economies have performed better than anticipated. 

Long and Bumpy Road Ahead

 Looking back over the first six months of 2023, many of the key advanced economies have performed better than anticipated.

Strongest deterioration in Irish manufacturing sector performance for over three years in June

Amid ongoing demand weakness, Irish manufacturing firms continued to see a decline in the health of the sector during June.