DAVY VIEW

In this report we set out what we know so far about the impact of COVID-19 on the Irish economy. Clearly, the impact is highly uncertain, so for now we have decided to delay revising down our forecast for 5.5% GDP growth in 2020. However, plausible scenarios include a significant reduction in GDP growth towards 1% if the virus is brought under control quickly or an outright contraction in Irish GDP in 2020.