Davy Research

Irish economy

New Irish economic forecasts

DAVY VIEW

We expect Irish GDP growth of 5% in 2017, revised up from 3.7%. GDP growth in 2016 was stronger than expected and artificially depressed by a €20bn import of intellectual property assets in the final quarter. In addition, short-term indicators such as PMIs and falling unemployment point to rapid growth in early 2017. We expect consumer spending will grow by 3.4% in 2017 and employment by 2.8%, with the unemployment rate falling to 5.3% on average in 2018.

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