DAVY VIEW

The new Irish GDP grew by 2.4% in Q1 2019, up 6.3% on the year, meaning that projections for circa 3-4% growth will now be revised up towards our Davy forecast for 5% growth in 2019. Yesterday’s (July 11th) data showed Ireland’s economy benefitting from buoyant exports, up 11% on the year, but also with consumer (+2.9%) and government expenditure (+3.5%) expanding rapidly.