IDA chairman Feargal O’Rourke, IDA executive director Mary Buckley, Enterprise Minister Peter Burke and IDA chief executive Michael Lohan
Foreign direct investment held up surprisingly well in the first six months of the year, defying the global economic uncertainty to set up the creation of over 10,000 new jobs. IDA Ireland, in its mid-year results, announced that there had been 179 investments made by global companies in Ireland, up 37pc on the same period last year.
According to IDA chairman Feargal O’Rourke, they were “super results in the year that’s in it”. But what has happened since? On Thursday we will find out. Mr O’Rourke, along with IDA chief executive Michael Lohan, and Enterprise Minister Peter Burke, will present end-of-year results for the semi-state organisation.
Also on Thursday, the governing council of the European Central Bank (ECB) will reveal what it has decided to do with interest rates. Most economists expect no change, given that inflation is at bay, and the eurozone economy seems reasonably resilient.
True, eurozone inflation rose to 2.2pc in November, up 0.1 of a percentage point, but it remains so close to Christine Lagarde’s target of 2pc that it shouldn’t change the calculation.
Like three buses coming together, Thursday will also see the publication of the Economic and Social Research Institute’s Quarterly Economic Commentary, Winter 2025.
This is an analysis of recent developments in the Irish economy by the independent think tank, and ESRI experts will also provide short-term forecasts for key variables such as Modified Domestic Demand, the most accurate measure of underlying Irish economic performance, and GDP, which is mostly driven by activity in sectors dominated by the multinationals.
Statistics wise, the CSO is producing a Residential Property Price Index on Wednesday, along with figures on goods exports and imports, which have been bouncing around in tune with US president Donald Trump’s flip-flopping on tariffs. On Friday it will have data about household internet security.
In terms of results, the one to watch out for this week is the British travel retailer WH Smith. These were due on Tuesday, but the company announced on Friday that the full-year results are being pushed back three days to give the auditors more time.
This is the second time they have moved, as the results were originally due in October. Evidently, the company is still grappling with accounting errors that led to the resignation of its chief executive, Carl Cowling, in November. Meanwhile, the search for his successor goes on.
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