Archives for Economics

#IrishBiz – Irish Economic News…

Coronavirus in Ireland: €6bn deficit — but it could have been much worse https://www.thetimes.co.uk/article/coronavirus-in-ireland-6bn-deficit-but-it-could-have-been-much-worse-b6wdcgcnv
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UK Government Coronavirus Advice For UK Businesses…

Guidance COVID-19: support for businesses Updated 20 March 2020 Contents Support for businesses through the Coronavirus Job Retention Scheme Support for businesses through deferring VAT and Income Tax payments Support for businesses who are paying sick pay to employees Support for businesses that pay business rates Support for businesses that pay little or no business rates Support for businesses through the Coronavirus Business Interruption Loan Scheme Support for larger firms through the COVID-19 Corporate Financing Facility Support for businesses paying tax: Time to Pay service Insurance The Chancellor has set out a package of temporary, timely and targeted measures to
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People, Population & Community Stats from the Office for National Statistics / ONS

Living longer: implications of housing tenure in later life Last month, we looked at how housing tenure had changed over time, with future generations of older people more likely to live in rented accommodation than they do now. Today’s article explores some of the implications this has, including Amongst private renting households containing someone aged 60 or over, fewer than half have savings or investments. This compares with over three quarters of those who own their homes outright. Not all those who own outright are well-off. While a quarter of older households that own outright had at least £50,000 in savings
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Office for National Statistics Release The Shopping Basket Report for Measuring Inflation…

Reusable bottles and gluten-free cereals are in, as ONS updates the inflation basket… Commenting on this year’s basket of goods, ONS senior statistician Philip Gooding said: “This year we have added reusable bottles and mugs to the inflation basket, as there has been a rise in popularity with many consumers looking to decrease their environmental impacts. “It is important to remember that these annual changes are only a small percentage of the overall basket. This year we’ve added 16 items, removed 14 and modified 4, while leaving 702 unchanged. “Decisions on changes to the basket depend, among other issues, on
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European Business News / EuropeanBiz – Latest European Economic News After Coronavirus Impact…

Europe’s economy was meant to have a decent year in 2020. Factory production in the 19-country eurozone rose strongly in January, after a tentative truce in the US-China trade war. Consumer confidence was strong. Housebuilders’ order books were full. The stage was set for a solid, albeit unspectacular year. The European economy would see “steady and moderate growth”, predicted the European commission’s economic forecast on 13 February. It also warned of clouds on the horizon, including a new virus. Noting mounting concern about coronavirus, as well as “downside” risks, the Brussels forecast concluded the outbreak would peak in the first three
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Welsh Business on the up…

Welsh firms reported higher output last month as business activity rose at its fastest rate for a year, according to new figures. According to the latest NatWest Wales PMI data, private sector firms registered a faster expansion in output during February. That said, new business grew at only a marginal rate as client demand softened midway through the first quarter. A sharper upturn in activity led firms to raise their payroll numbers at the quickest pace since December 2018, as the reduction in backlogs of work remained strong. Slower new order growth led companies to moderate their output expectations slightly from January’s
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US business levels fall sharply amid coronavirus 🇺🇸🌍📰

US business levels fall sharply amid coronavirus – Business activity in the US service sector fell last month for the first time since 2013, hurt by the coronavirus, according to a survey. The drop came amid a “notable worsening” in the services sector, which includes finance and retail, the IHS Markit research firm reported . New orders received by private sector firms also declined for the first time since 2009, it said. US financial markets fell sharply following the report. The latest IHS Markit/CIPS purchasing managers’ index data found that services business activity fell to 49.4, from 53.4 in January, while manufacturing
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