Weekly Market Review – 01st April 2024

This week’s Market Review –In the US revised GDP data showed that the US economy grew by a rate of 3.4% in Q4 2023 up from the previously reported 3.2%. In other major news we witnessed the collapse of the Francis Scott Key bridge in Baltimore, Maryland. In Europe the European Commission stated that it would be launching official probes into Apple, Alphabet and Meta utilising the new Digital Market Act. In the UK the BBC announced plans to create its very own Artificial Intelligence (AI) model to support journalists and research articles. In Ireland we saw record levels of mortgage approvals for first time buyers in February, growing by 14.7% in volume terms. In Asia-Pacific growth in the Chinese Electric Vehicle (EV) industry showed no sign of slowing down as BYD remains the dominate force with sales of their EVs expected to account for 8% of the total European EV market.