Ireland Economic Outlook
September 25, 2018Recently-released GDP data for the second quarter shows that the Irish economy rebounded markedly from the previous quarter on a surge in exports and healthy growth in private consumption. Although skewed by the large presence of multinationals, the economy’s annual pace of expansion positions it as the Eurozone’s best-performer, and available data for the third quarter indicates the picture remains upbeat. Retail sales and industrial production rebounded over the previous month in July. Moreover, merchandise exports picked up in July for the second consecutive month on higher overseas sales of medical and pharmaceutical products, and organic chemicals. Looking at survey-based data, consumer confidence tumbled in August following July’s strong reading as elevated Brexit-related uncertainties drove consumers to downgrade their assessment of the wider Irish economy. Meanwhile, the manufacturing and service PMIs climbed higher in August after losing ground in the previous month.
Ireland Economic GrowthThe economy is expected to grow at a slower pace next year, owing to a deceleration in export growth and weaker expansion in government spending. Meanwhile, a robust labor market and accommodative monetary conditions should keep private consumption growing at a healthy pace. Risks to the outlook stem from Brexit-related uncertainties, as well as from the intensifying trade standoff between China and the U.S., given the open nature of the economy. Met the why particular panelists expect GDP to grow 5.8% in 2018 and 3.4% in 2019, which is up 0.1 percentage points from last month’s forecast.
Ireland Economy Data
5 years of Ireland economic forecasts for more than 30 economic indicators.
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|Bond Yield||0.74||0.27 %||Oct 16|
|Exchange Rate||1.16||0.65 %||Oct 16|
|Stock Market||6,263||-0.39 %||Oct 16|
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Ireland Economic News
September 13, 2018
Quarterly national accounts data published by the Central Statistics Office on 13 September showed that the Irish economy accelerated over the previous quarter in Q2, although lost some ground in annual terms.
September 6, 2018
The KBC Bank Ireland/ESRI consumer sentiment index dropped to 112.4 points in August, down from July’s 117.6 points.
September 5, 2018
The Investec service Purchasing Managers’ Index (PMI) climbed to 58.0 points in August, up from 57.4 points in July.
September 4, 2018
The highly volatile Irish manufacturing industries production index rose 3.3% over the previous month in seasonally-adjusted terms in July, contrasting a revised 9.4% month-on-month drop in June (previously reported: -9.5% month-on-month).
September 3, 2018
The Investec manufacturing Purchasing Managers’ Index (PMI) climbed to a seven-month high of 57.5 points in August, up from 56.3 points in July.