Published 31/07/2011 | 05:00
It appears that more of us are gearing up to surf the big wave they call 'Aileen's' at the Cliffs of Moher this October. The online gift site Giftsdirect.com has seen its sales of surfing and sailing products soar by more than 30 per cent on last July.
These summer mornings may be brighter than those of dreary winter but we still need that shot of caffeine to wake us up. Insomnia coffee sales are slightly up on last year, with a 1.5 per cent increase -- primarily driven by sales of Americano and latte.
The annual trip to Ballybrit may well have taken our minds off the Irish recession -- but even the Galway Races aren't immune to the economic downturn. The numbers flocking to the festival, as well as the amount of money being spent there, are both down on last year. The attendance at Ladies Day was 42,789, which was 3.6 per cent lower than last year. Tote betting was down 6.8 per cent to €1,237,579, and bookmaker betting was down 3.7 per cent to €2,754,737.
10-year Irish bond yield
With a lower Irish bailout interest rate on the cards, as well as a longer term to repay the loan, things appear to be looking up for Ireland -- for the moment. The yield on the Irish government bond has fallen steeply as a result, from 12 per cent to 10.6 per cent over the past week. With the spotlight on the Portuguese, Greek and Irish economies now moved to much bigger beasts Italy, Spain and the US, the yield on the Irish government bond should continue to fall.
20 equally weighted ISEQ shares
The stock market is weighed down with fear -- from the European debt crisis to the high stakes US debt ceiling to the concern that inflation could break out. Despite this, over the past week the group of equally weighted ISEQ 20 shares is up ever so slightly -- by 0.54 per cent.
Ratio of new enterprises/ companies closing down
The seven days leading into a bank holiday weekend are often not a time that entrepreneurs choose to launch their enterprises. So it is no surprise that this indicator has fallen this week to 2.11. It is still coming down from a strong base of 3.43, however, and this ratio is high when we compare it to the lead in to the May bank holiday weekend.
Stock of properties available on Daft.ie
Perhaps it's because State bad bank Nama now has so many properties on its books, but the stock of properties available on Daft.ie has fallen -- imperceptibly -- by 0.07 per cent. However, as we look back over July we notice that the average number available in the market has increased. The mean volume of residential homes available for sale throughout June fluctuated in and around the 58,800 mark, but it rose above 59,000 for three out of the four weeks. This increases the backlog of supply that needs to be worked through, choking prices further. What Nama's latest wheeze for first-time buyers will result in is anyone's guess.
Sunday Indo Business