US manufacturing output increased solidly in August, boosted by a surge in the production of machinery and other goods, but the outlook for factories remains weak amid rising headwinds from trade tensions and slowing global economies.
The country’s competitiveness watchdog has warned that Ireland’s economic recovery and the Government’s commitment to reaching full employment are under “serious and imminent threat” amid an increasingly uncertain global outlook.
The IDA is likely to renew its push for more resources, to help it accentuate its promotion of Ireland as an investment location, when it formally meets Jobs and Enterprise Minister Mary Mitchell-O’Connor in the coming weeks to review its strategy and performance.
Nike shares rose yesterday despite the sporting goods giant’s quarterly revenue growth and its forecast for orders missing analysts’ estimates and underscoring its struggle to fend off competition from Adidas and others, especially in its home turf of north America.
DCC remains on the acquisition trail as it reported annual profits growth despite facing down a slew of challenges, including “a very difficult” year in its UK technology division, a mild winter, and the low crude oil price that slowed volumes at its energy division sales.
Ireland’s economy will grow again strongly this year and any new government can look forward to tapping solid growth in tax revenues — as long as the worst fears over a Brexit and the global economy do not come true, according to new Department of Finance key projections published last night.