Irish Economic Indicators

Irish GDP likely to grow by 7% in 2018 after Q2 out-turn

Today’s Irish GDP data show a 2.5% rise in Q2, with activity bouncing back after a 0.4% contraction in Q1. Overall, GDP is up 9% in H1 2018 versus last year. This means we will have to...

Irish residential property price inflation slows to 10.4%

The Residential Property Price Index (RPPI) increased by 1% in July, but the annual inflation rate fell to 10.4% — its slowest pace since April 2017. In Dublin, prices rose by a solid 0.7% on...

Room for manoeuver in Budget 2019 narrows

Today’s exchequer returns show disappointing tax revenues in August, albeit probably depressed by timing issues. However, spending pressures are growing, specifically a growing...

Irish employment grows by 3.4% in year to Q2 2018

This morning’s Labour Force Survey data show employment up 0.8% on the quarter and 3.4% on the year. The news that net inward migration rose to 34,000 in 2018 has led the Central...

Irish housing completions up strongly in Q2

Today’s housing completions data from the CSO show another strong rise in new construction activity in Q2 2018. On the quarter. 4,419 homes were constructed – a 34% rise on the year....

Dublin house price inflation eases to single-digit pace

As expected, annual house price inflation eased in June to 12% from 12.4%, albeit prices were still up 1.1% on the month. In Dublin, prices were up 0.2% on the month and annual inflation...

Tax revenues continue to grow strongly

July’s exchequer returns show continued buoyant tax revenues, up 5.5% on 2017, but accompanied by sharp increases in public expenditure. Gross voted current expenditure is up 6.2% on...

Retail sales up strongly in Q2

Core retail sales were up marginally in June, by 0.1% on the month, and annual growth was 4.6%, ending another strong quarter for consumer spending in Q2 with sales up 1.2% on Q1 and...

House price inflation eases in May

As expected, annual house price inflation eased in May to 12.4% from 13.5%, albeit prices were still up 0.6% on the month. In Dublin, prices were up 0.5% on the month and annual inflation...

Economy performing well despite Q1 GDP fall

Q1 GDP data show a surprising 0.6% fall in headline growth on the quarter, albeit still up 9.1% year-on-year (yoy). As ever, activity in the multinational sector clouds the picture, with a...