Irish Economic Indicators

Consumer spending enters 2025 on a strong footing

The Irish economy began 2025 in good shape. Tailwinds from strong labour demand have been helped along by lower interest rates and a decline in headline inflation, which remains the...

Expansionary Budgets add to a strong economy in 2024

The December Exchequer returns suggest strong economic activity in 2024, boosted by successive expansionary Budgets. Voted current and capital spending each grew faster than...

Transactions for new homes climb 26% in October

Residential property prices grew 9.7% in October, close to the double-digit rates seen in recent months. However, rapid increases in Q4 last year mean some reduction in headline growth...

Ireland’s Exchequer begins to receive back-taxes from Apple

While October is not a crucial month for the Irish Exchequer, volatility of recent years continued with a near-trebling of corporation tax. This was driven by the first arrival to the...

Revising down our housing completions forecast for 2024

Despite an improvement on H1 2024, this morning’s update for housing completions in Q3 marks an inopportune pre-election result for the government. Output over the past four quarters...

Tax receipts continue to signal rapid economic growth

September’s tax receipts continue to support our view that the economy is on course to grow by at least 4.5% this year. However, the expansionary nature of Budget 2025 and higher...

Irish residential property prices rise for the first time in six months

Yesterday’s Residential Property Price Index (RPPI) for June rose by 0.6%, the first gain since December after five consecutive months of decline. Prices rose by 0.3% in Dublin, breaking...

Irish Construction PMI falls to 45.6 in July

This morning’s Irish Construction PMI at 45.6 in July, signalling a fresh contraction after stability in June, is surprising. The readings are not consistent with the recent pick-up in...

Residential property price and mortgage approvals data point to resilient Irish housing market

Taken together, this morning’s Banking & Payments Federation Ireland (BPFI) mortgage approvals data and yesterday’s Residential Property Price Index (RPPI) point to the resilience of...

Irish Construction PMI points to activity improving in H2

This morning’s Irish Construction PMI at 49.4 in May is still below the 50 no-change level but suggests that activity will pick up in the coming months. New orders rose for a fourth...