Insights Weekly Roundup

Insights Weekly Roundup 25/08/25  

Consumer: 

• GfK’s long-running Consumer Confidence Index increased by two points to -17 in August. Four measures were up and one was down in comparison to last month’s announcement. NIQ - UK Consumer confidence up two points in August to -17 (22 August 2025) 

• According to the latest UK Domestic Travel Sentiment Tracker from VisitBritain, 78% of those surveyed in August 2025 intend to take an overnight domestic trip over the next 12 months, down by 1% on August 2024. The top barriers to taking an overnight domestic trip in the next 6 months were the ‘UK weather’ (29%), and the ‘rising cost of living’ (28%).  VisitBritain - UK Domestic Travel Sentiment Tracker (21 August 2025) 

Industry: 

• The optimism of Britain’s hospitality leaders rose in the second quarter of 2025 despite the arrival of new labour costs, the latest Business Confidence Survey from CGA by NIQ and Sona reveals. The exclusive poll shows 41% of leaders feel optimistic about prospects for their business over the next 12 months—up by 7 percentage points from the first quarter, and a second successive increase. NIQ - Business Confidence Survey from CGA by NIQ and Sona (22 August 2025) 
• According to the latest Business Insights and Conditions survey from the ONS, 16% of trading UK businesses reported that their turnover had increased in July 2025 compared with the previous calendar month, and was broadly stable from June. In contrast, 24% reported their turnover had decreased, also broadly stable over the same period. Economic uncertainty was the most reported challenge affecting turnover for trading businesses in early August 2025 at 25%, down 7 percentage points from early April (32%). ONS - Business insights and impact on the UK economy (21 August 2025) 

Economy: 

• There were an estimated 25,000 young people aged 16 to 24 years in Northern Ireland who were not in education, employment or training (NEET) in April to June 2025. This was equivalent to 12.4% of all those aged 16 to 24 years in NI, an increase of 3.0 percentage points from the previous quarter (9.4% in January to March 2025). Department for the Economy - Northern Ireland Labour Force Survey: Young People Not in Education, Employment or Training (22 August 2025) 

Insights Weekly Roundup 18/08/25  

Economy: 

• UK gross domestic product (GDP) is estimated to have increased by 0.3% in Quarter 2 (Apr to June) 2025, following an increase of 0.7% in Quarter 1 (Jan to Mar) 2025. GDP is estimated to have increased by 1.2% in Quarter 2 2025, compared with the same quarter a year ago. In output terms, growth in the latest quarter was driven by increases of 0.4% in services and 1.2% in construction; while the production sector fell by 0.3%. 
  ONS - GDP first quarterly estimate, UK: April to June 2025 (14 August 2024) 

• Economy Minister Dr Caoimhe Archibald has launched a three-year Apprenticeship Action Plan. The plan aims to improve, grow, and make apprenticeships more inclusive across Northern Ireland.  The Apprenticeship Action Plan aims to expand the pipeline of talent for business and help more people access apprenticeship opportunities. The plan builds on the well-established Apprenticeship system that is well regarded and has experienced growth in recent years. 
  Economy NI - Apprenticeship Action Plan August 2025 (11 August 2025) 

Consumer: 

• The Barclays Consumer Spend report combines hundreds of millions of customer transactions with consumer research to provide an in-depth view of UK spending. The latest report found that Consumer card spending grew 1.4 per cent year-on-year in July, up from -0.1 per cent in June, but remaining below the latest CPIH inflation rate of 4.1 per cent. Meanwhile Confidence in household finances held strong at 72 per cent, after reaching a four-month high in June. 
  Barclays - Barclays Consumer Spend Report (12 August 2025) 

Closer to Home: 

• The Irish Tourism Industry Confederation (ITIC) today publishes its pre-budget submission which warns the tourism sector faces an unprecedented time of geopolitical and macroeconomic uncertainty. Industry leaders call for the restoration of 9% VAT rate for food services sector and increased spending on tourism in a budget submission that focuses on competitiveness, connectivity and investment. 
  ITIC – Budget 2026 Tourism Submission (13 August 2025) 

Insights Weekly Roundup 11/08/25

Air Access: 

• July was the busiest ever month at Dublin Airport, continuing the summer surge of record-breaking passenger numbers, with 3.75 million passengers passing through (+6.9% vs July 2024). Every day in July saw more than 100,000 passengers move through the airport's two terminals, with more than 120,000 passengers landing and taking off on no less than 17 days during the month. Airport operator daa said the increase in passenger numbers was the result of strong incoming tourist numbers as well as high numbers of Irish residents heading off on summer holidays overseas. Dublin Airport - Summer surge continued as Dublin Airport welcomed 100k+ passengers every day in July (7 August 2025) 

• The International Air Transport Association (IATA) released data for June 2025 global passenger demand, finding that total demand rose by 2.6% compared to June 2024, a slow in growth compared to previous months. International demand rose 3.2% compared to June 2024, while domestic demand saw a smaller increase of 1.6% compared to June 2024. IATA - Passenger Growth Slows to 2.6% in June (31 July 2025) 

 Consumer: 

• UK holidaymakers are leaving it later to book shorter stays closer to home, travel firms are reporting. The trend is down to people trying to save money while making the most of hot weather, some of the UK's biggest holiday companies have told the BBC. Booking.com says the number of people searching their site in July for a UK trip in the next six weeks was up 23% on last year, while AirBnB says more Brits are "embracing spontaneous getaways close to home". BBC News - Britons booking later, closer, shorter UK breaks, travel firms says (8 August 2025) 

 Economy: 

• The Bank of England has cut interest rates to 4%, taking the cost of borrowing to the lowest level for more than two years. The cut, from the previous rate of 4.25%, is the fifth since August last year, but was only narrowly backed by the Bank's policymakers who took two votes to reach a decision. Lower rates will reduce monthly mortgage costs for some homeowners but it could also mean smaller returns for savers. BBC News - UK interest rates cut to lowest level in more than two years (7 August 2025) 

Insights Weekly Roundup 04/08/25  

Economy: 

The department for the economy (DfE)’s monthly economic update for July 2025 analyses the main trends and events arising each month, both in the local economy and also any national or global economic events which will impact on Northern Ireland. DfE Monthly Economic Update – July 2025 (31 July 2025) 

In its latest Northern Ireland Quarterly Sectoral Forecasts report Danske Bank has slightly revised up its forecast for economic growth in Northern Ireland in 2025 but says the rate of economic expansion is likely to remain modest next year. The bank then expects the rate of growth to pick up slightly to about 1.1% in 2026, but this is below the 1.4% it projected in its previous report in March. 
Danske Bank – Quarterly Sectoral Forecast (Q2 2025) 

Closer to home: 

The Irish Tourism Industry Confederation (ITIC) has published its June Dashboard showing a mixed performance for the sector compared to the same month last year. Visitor numbers outline a 2% decline in international visitors during June with spend down 6% although the number of nights tourists spent in the country was up 6%. Airport traffic had a strong month while the accommodation sector was flat with little to no change.  ITIC – Tourism Dashboard June 2025 (30 July 2025) 

The Central Statistics Office (CSO)’s latest Inbound Tourism statistics report that 654,500 foreign visitors completed a trip to Ireland in June 2025, down 2% compared with June 2024. The average length of stay for foreign resident overnight visitors was 7.9 nights, up from an average of 7.3 nights in June 2024. Visitors stayed a total of 5.2 million nights in the country, an increase of 6% when compared with June 2024, and spent €647 million on their trips, down 6% compared with June 2024. The largest contingent of visitors came from Great Britain (34%), followed by visitors from the United States (25%), and the most frequent reason for travelling to Ireland was for holiday (47%).  CSO – Inbound Tourism June 2025 (30 July 2025)