Stockbroker plays down mini spike in jobless rate an says softer-than-expected tax receipts reflect ‘slowing wage growth in high-earning sectors’
Stockbroker plays down mini spike in jobless rate and says softer-than-expected tax receipts reflect ‘slowing wage growth in high-earning sectors’
State’s €275m capital spending plan could unleash private sector co-investment and boost economic activityThe upward revisions, flagged by the CSO, represent “a mainly statistical aspect of the estimation process rather than providing any real-economy signal that Ireland’s labour market conditions have worsened in 2025,” Davy chief economist Kevin Timoney said.
“An alternative explanation is that high economic policy uncertainty in Ireland and abroad as a result of tariffs has resulted in an increase in the unemployment rate,” he said. In its report, Davy also blamed softer-than-expected income tax receipts in the latest exchequer returns on “slowing wage growth in high-earning sectors ”.
Economists have pushed back expectations for another reduction in borrowing costs by three months, compared to a survey conducted in July. With the deposit rate then landing at 1.75 per cent, they see it remaining there for nine to 10 months before a pickup in demand will likely force them to reverse course.
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