Demand for US  durable goods, expected to last at least three years,  took the largest fall  in five months during June as orders dipped for cars and planes, but bookings other than transportation rose strongly and a measure of capital spending climbed. Orders for commercial planes dropped, down 38.5%. Aircraft manufacturer Boeing suffered production delays of its new mid-range 787 Dreamliner.

Seasonally adjusted Irish merchandise exports fell 12% in May, relative to April 2009 and imports grew by 1%, according to the CSO. Relative to March 2009, exports increased by 6% and imports decreased by 5% in April 2009.

The overall KBC Ireland/ESRI Consumer Confidence Index weakened to 49.5 in July. This compares to a figure of 53.4 in June, and to an all time low of 39.6 that was reached a year ago in July 2008.

Markets news on stocks, currencies and commodities: Goodbody says there are at least 57,000 Irish second-hand homes for sale at the current time, representing over 19 months of supply at current sales rates.

Markets news on stocks, currencies and commodities: Goodbody says there are 57,000 Irish second-hand homes for sale at the current time, representing over 19 months of supply on current sales rates.

A report published today by the Economic and Social Research Institute (ESRI) says a side effect of the economic recession since 2008 is that Ireland may meet its Kyoto Protocol commitment for 2008-2012 to reduce its greenhouse gas emissions, but that its longer term targets for 2020 and beyond remain stringent.

The Cabinet on Tuesday approved draft legislation on the Irish “bad bank,” the National Asset Management Agency (NAMA). However, the blanks remain to be filled on key aspects of valuing the €80 to €90 billion worth of property loans, advanced by Irish banks during the bubble.

The global technology industry may have passed a turning point, the Paris-based Organisation for Economic Cooperation and Development (OECD) said in a report published on Tuesday.

Principal news stories from the Irish Independent, Irish Times, Irish Examiner, Financial Times and New York Times.

China sought and received an assurance from the Obama administration that the United States would cut its budget deficit once an economic recovery got under way, China’s delegation confirmed on Tuesday, at the end of two days talks between the countries, called the US-China Strategic and Economic Dialogue.