Friday 24 March 2017

Gambling

It seems that only Nirvana or the Wombles can trouble the winner of X Factor in the race for the Christmas number one. Paddy Power has odds of 2/5 on the X Factor winner topping the charts. There's money to be made somehow. But Ireland's biggest bookmaker has reported that its average stake per bet is down 6 per cent on the same period last year. Given that gambling is the ultimate in discretionary spending, it is another sign that the wallet is staying in the back pocket.

Export projections

It's either a train or a scary European double dip recession that's coming down the tracks. Neither is going to be pretty when it arrives. The Irish Exporters Association is downgrading its projections of growth this year from 7 per cent to 5 per cent. While this is still positive, it can't be ignored that the thriving aspect of our economy, that which we are relying on to take us into sustainability again is not performing as expected and could well feed back negatively into our economic growth as a whole.

Latte and cappuccino sales

Is it any wonder that we're not angrier about the mess this country is in? We're all completely wrecked and half asleep. Sales of coffee at Insomnia fell 2 per cent last week compared to the same week in 2010. Takeaway coffees are a sign of the strength of the retail economy.

Consumer Confidence

Wow. It was an absolutely cracking score from the latest KBC/ESRI Consumer Confidence survey which shot up to the highest levels since July 2010 last week. Some of the 'feel-bad' factor has been eroded by qualification for Euro 2012, the prospect of further rate cuts and Ireland's economic growth numbers. Rising consumer confidence ultimately translates into increased spending and happy days. But KBC has warned that the increase might be a bit of a blip. Even so, any increase is better than a poke in the eye with a stick.

Ireland's bond yields

And so Enda had a "robust" discussion with Angela Merkel in which he was slapped around a bit. Ireland is great but we can forget any handouts. But bond yields rose slightly to 8.09 as Ireland looks less like Greece or Portugal. But does it matter if the whole Euro project goes up the kazoo?

Daft.ie volume of properties available for sale

The daft.ie figures have done it again -- we have reached yet another low in the number of properties available for sale on the market today. For the first time since the genesis of this index, the volume overhang had dipped under the 57,000 mark to 56,673. Contrast this against two weeks in July when this very figure topped 59,000. The further this falls, the better, as it illustrates that the market is clearing and finding a price bottom.

O'Neills GAA jerseys

Sales of replica tops fell by 25 per cent last year, according to O'Neills, due to people emigrating or businesses not sponsoring GAA kits. While this is an indicator of weak consumer spending in smaller counties, Dublin is not immune. Sales of the Dublin jersey were slightly disappointing, according to the company.

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