Crash-out Brexit fears caught up with Irish manufacturers in August as output contracted at a pace not seen since spring 2013.

Brexit fears will cost the Government €1bn in lost tax revenues this year as Irish consumers rein in spending, according to a major survey.

Sterling sank to a 30-month low of below $1.21, hurt by a stronger dollar, renewed worries about a no-deal Brexit, and reduced Bank of England forecasts for British economic growth.

The Irish Stock Exchange has been on an interesting journey during 2019, writes Joe Gill.

Sterling resumed its dive amid warnings that a crash-out Brexit in late October would sink the currency — and the prospects for many Irish firms.

Sterling tumbled against the dollar and slid to a six-month low of under 90 pence against the euro as fears over a Halloween exit for Britain from the EU haunted investors.

Sterling slipped further and Irish shares fell sharply as fears of investors rose that the political turmoil in the UK will lead to Boris Johnson becoming leader, and Britain crashing out of the EU without a deal.

Sterling steadied after initially posting further large losses on UK political fears but shares in Europe and the US were hit as the fallout of the US-China trade war extended to Chinese champion Huawei and the world’s chip makers for mobile phones.

Sterling and European shares fell as the risk of the UK accidentally dropping out of the EU without a deal increased, as European Council President Donald Tusk told Theresa May she can have a short Brexit delay but only if the deal is voted through by the UK parliament next week.

Brexit deal will spark a sustained rally for sterling and stocks

So that’s Wednesday nearly wrapped up. Here’s some of the stories we published on irishexaminer.com today which we hope will help you make sense of it all this evening.

Sterling recovered from its sell-off in the wake of the British parliament’s Brexit votes, as investors bet the UK government would still avoid exiting the EU without an agreed trade deal in place.

New car sales fell by almost 4.5% during 2018.

New car sales fell by almost 4.5% during 2018.

The experts predict that a defeat may be snatched from the jaws of victory, with logic lacking in the Brexit negotiations. From local concerns to the international outlook, Eamon Quinn, Geoff Percival, and Pádraig Hoare report on this week’s Brexit progress.

Brightening prospects of what looked like, even a week ago, an unlikely Brexit breakthrough will be the key focus of Irish exporters, foreign exchange traders, and the Dublin and London stock markets this week.

The wife of former Anglo Irish Bank chairman Sean Fitzpatrick is claiming €40m in investments he had were mostly funded from loan accounts in their joint names.

World markets spluttered, irked by the failure of German coalition talks which sent the euro and the price of oil lower.

British consumers are vulnerable to a hike in interest rates, ratings agency Moody’s has said, two weeks before the Bank of England is widely expected to hike borrowing costs for the first time in more than a decade.

The Bulmers, Magners and Tennent’s drinks firm, C&C Group, says it is seeking further savings and exploring the potential for contract manufacturing as the pressure on sterling following the unexpected outcome of the UK general election last month continues to weigh.

The UK elections are getting tighter, which could mean another nervy few days this coming week for sterling traders and Irish firms depending on the currency.

We are fast approaching the middle of 2017 and financial markets are experiencing relative calm. Investors are well advised to review progress and consider how best to position themselves for a full-year performance.

UK grocery prices rose slightly from November to December, according to data from tracking website www.mySupermarket.com

British consumers are downbeat about the economy’s prospects next year, when higher inflation is likely to erode their spending power, a major survey showed, despite signs that growth has remained robust since June’s Brexit vote.

The pressure facing retailers over the ‘Long Black Friday’ weekend following the plunge in sterling since the Brexit vote could ease significantly as the euro faces the first of its own looming tests next week, according to analysts.

Strategists have rushed to slash their pound forecasts since the UK voted to leave the EU, but one fund manager is bucking the anti-sterling trend.

A ruling by a UK court that insists the British parliament approve the Brexit vote will unlikely delay the final divorce proceedings with the EU, Ireland’s leading independent expert on Brexit has said.

Here’s a briefing on some of the stories and issues highlighted on irishexaminer.com today

Ryanair has reduced its full-year net profit guidance by 5% from a previous range of €1.375bn - €1.425bn to a new range of €1.30bn - €1.35bn.

Sterling fell sharply against the euro, ratcheting up the pressure on Irish firms selling goods and services across the Irish Sea following the weekend declaration by British Prime Minister Teresa May that the UK is intent on a hardline exit from the EU.

Sterling rose for the first time in four days yesterday as hedge funds and other large speculators cut their bets that the currency will fall for a second week before the Bank of England’s latest policy decision.

Shares in Applegreen rose as the petrol forecourt retailer said it had not suffered any significant hit in the run up to late June vote by the UK to depart the EU and has no major plans to slow its expansion plans in the North and in Britain.

Good morning. Here’s everything you need to know before you start your day.

Speculators that are the most bearish on sterling in nearly 25 years may be vindicated by yesterday’s survey showing Brexit is probably hitting Britain harder than markets previously envisaged.

Convenience foods firm Greencore, which only this week bought out another sandwich maker in Britain, said it will likely avoid any immediate big hit from the slump in sterling this year, though its debt load could rise in the longer term.

Overseas buyers lured by a plunge in the pound are looking to snare British companies on the cheap, ensuring a steady flow of deals since Britain voted to leave the EU and defying expectations of an M&A drought.

Sterling fell as reports suggesting that the UK’s manufacturing and services industries contracted in July heightened speculation that the Bank of England will cut interest rates as soon as next month.

The Bank of England said business uncertainty had "risen markedly" since the Brexit vote - but there was "no clear evidence" of a sharp economic slowdown.