Market Pulse Report Q2 2023Market Pulse is an analysis of the key trends in the SME sector, prepared by Fitzgerald Power on a quarterly basis. Check it out here.Irish economyThe number of mortgages drawn down has decreased by almost 20% in Q2. According to the Banking and Payments Federation Ireland there were 9,896 mortgages valued at €2.8 billion drawdown.Global economic trendsThe OECD has projected global GDP growth to be 2.7% in 2023, which is the lowest annual rate since the global financial crisis and the pandemic in 2020. Inflation remains high at 6.6% but is projected to fall to 4.3% by 2024.InflationInflation in the eurozone was 5.5% in June 2023, a decrease from 6.9% at the end of the previous quarter. Energy prices have continued to drive the decline.Irish house pricesAccording to Daft.ie there was a 0.5% decrease in house prices when compared to the same period for 2022. However, there has been an increase of 2.4% from March to June 2023.Household expenditureNew figures published by the European Commission confirm Ireland was the most expensive country in the EU for household expenditure on goods and services last year with prices 46% above the EU average.Read more of Q2 2023 in the full report which can be downloaded here.Fitzgerald Power is a leading financial advisor to the Irish SME sector.We provide accountancy, corporate finance and taxation advice to businesses across the country. We’d love to hear from you so please get in touch if you think we can help.Further Articles Market Pulse Report Q1 2023Market Pulse is an expert-led, up-to-date analysis of the Irish SME sector as well as global economic activity. Read Blog Pharmacy Pulse Report Q1 2023Analysis of the key trends in the Irish Community Pharmacy sector, prepared by Fitzgerald Power on a quarterly basis. Read Blog
