IBEC, the group that represents Irish business, has said that two sets of statistics published today by the CSO provide further evidence of a slowing economy in 2008.

IBEC’s latest Quarterly Review released today revealed that the economy to date had performed well with first half figures for GDP recorded growth of 6.7% and a solid growth in manufacturing and exports.

Irish business representatives, IBEC have said that a slowdown in the housing sector increases the need to boost exports in order to maintain current living standards.

IBEC has said February's CSO figures for industrial production published today were "very disappointing".

INCREASING globalisation will pose a serious threat to both high-skilled and low-skilled jobs over the next decade.

More investment is needed in highly-skilled, well-paid research and development jobs if the economy is to grow and living standards improve, it was claimed today.

EMPLOYER'S body IBEC warned yesterday that an increasing lack of competitiveness could jeopardise Ireland's future prosperity.

EXCHEQUER figures for January show the Government has a €484 million surplus despite spending on health rocketing by 52%, over January 2004, to €1.15 billion.

INFLATION rose sharply by 2.3% in June, up 0.6% from the more modest 1.7% annual rate in May, yesterday's Consumer Price Index showed.

THE Exchequer may end up borrowing €1.1 billion less than expected this year, the Department of Finance said last night.

IRELAND’S inflation rate of 2.3% would be just 1.6%, but for continued increases in taxes and public sector charges it emerged yesterday.

EMPLOYERS' group IBEC has called for a freeze on benchmarking payments to the public sector to ease pressure on finances as the economy stagnates.

THE Government was accused last night of giving up on tackling inflation following the announcement of Budget 2003.