Published 28/08/2011 | 05:00
Sales of the black stuff tumbled 6 per cent compared to last year due to punitive tax rates and the high unemployment rates, which hit pubs particularly hard. Off licence sales of beer are doing OK but it's not great news for the tourism or hospitality sector. Maybe Obama should have just had a Diet Coke.
10-year Irish bond yield
Go Ireland! The Irish government bond yield plunged from 14 per cent in July to under 9 per cent. That's a drop of 36 per cent. The insurance on those bonds, as measured by the credit default swap rate, has increased by 31 points over the week to 820. However, it is noteworthy, that the CDS rate on Portugal is now 23 per cent higher than our own, reflecting that the markets are making a clear distinction between the two.
The volume of shipping and port traffic dipped in the second quarter of 2011 when compared to growth rates seen in the first quarter, according to new numbers from the Marine Development Office. The number of giant trucks fell by 1 per cent in the second quarter with 413,727 freight units. Container imports were down 4 per cent, indicating continued wobblers for consumer confidence and retail spending.
While we're steering clearing of buying expensive stuff like tellies or washing machines, we're still able to find a few euro for a cup of coffee. Sales at Bobby Kerr's Insomnia edged up 0.1 per cent compared with the same week last year.
Chucking out stuff because it's got a hole in it is so 2005! So, it would seem, is buying anything new. Making clothes is becoming more popular, with ebay.ie showing a big jump in sales of knitting needles and wool. Not joyous tidings for the high street though.
20 equally weighted ISEQ shares
Volatility is the name of the equity game at the moment, as the buyers and sellers slap each other around. Our basket of ISEQ shares fell by 0.11 per cent over the week as investor appetite for Irish equities was pancake flat.
Stock of rental properties available on Daft
What a difference a week makes! In just seven days the stock of residential properties available on Daft.ie has fallen by 19.22 per cent, fuelled by the upcoming start of university terms. Any sign of activity on the property market is good -- especially for the banks which may see loans repaid if properties are rented out.
Irish funds industry
We've no idea what they do in the shiny buildings down in the financial services sector. There are €987bn in assets under management in Ireland, according to the funds industry. This represents a growth of 2.5 per cent on last year, which, while not sparkling, is broadly positive.
Sunday Indo Business