Irish Economic Indicators
Irish residential property prices fall for third successive month
We had flagged that Irish residential property prices would likely fall in early 2023, so the 0.6% decline in the Residential Property Price Index (RPPI) in March is not a surprise. Given...
Irish Construction PMI at 48.4 in April
This morning's Irish Construction Purchasing Managers’ Index (PMI) at 48.4 signals another contraction in activity, despite small rises in employment, new orders and purchasing activity...
Irish Manufacturing PMI falls to 48.6 in April
This morning’s manufacturing PMI at 48.6 in April shows the sharpest decline in output since November, the sector being affected by the broader downturn in Europe. However, firms are...
Ireland’s public finances continue to beat expectations
Ireland’s public finance data for March showed a buoyant 15% growth rate in tax receipts in Q1 to €19.7bn. This is well ahead of official forecasts and suggests that jobs creation,...
Irish manufacturing PMI falls to 49.7 in March
This morning’s Irish manufacturing for March is a little disappointing, falling back to 49.7, albeit still stronger than the flash euro area (47.1) and UK (48.0) readings. Export orders saw...
Revisions to Irish GDP could mean euro area contracted in Q4
The consensus view is that today’s euro area GDP release for Q4 2022 will show flat growth, revised down from a marginal 0.1% expansion, principally due to the deeper 0.4% contraction...
Irish residential property prices rise 0.3% in December
The further 0.3% rise in the Residential Property Price Index (RPPI) in December, with annual inflation at 7.8%, shows that house prices continue to be resilient. The lack of housing...
New Irish economic forecasts – GDP to grow 6.9% in 2023
We have revised up our forecast for Irish GDP growth to 6.9% in 2023 and 5% in 2024. First, activity at end-2022 held up better than expected (especially in the multinational sector),...
Irish housing completions grow close to 30,000 in 2022
Housing completions rose close to 30,000 in 2022, showing that activity was stronger than expected, and that there is already sufficient capacity in the sector for a level of output...
Ireland ran budget surplus of €5bn (1% of GDP) in 2022
Yesterday’s (January 4th) exchequer returns confirmed that the Irish government ran a surplus of €5bn (1% of GDP) in 2022, one of the few countries to do so. The out-turn was...
