Ireland Economic Outlook
September 27, 2016In Q2, the economy returned to growth and expanded 0.6% quarter-on-quarter. The reading was underpinned by a massive expansion in fixed investment as multinational corporations notably increased spending on intangible assets such as spending on research and development, which includes patents and licenses. The latest economic data from Q3 show that the economy remained resilient in the aftermath of the Brexit turmoil. In August, both the Manufacturing and Services PMI recovered from July’s multi-year lows and the consumer confidence index increased considerably. On the political front, Prime Minister Enda Kenny said that next year’s budget, to be discussed next month, envisages contingency measures to withstand Brexit shockwaves and further tax cuts.
Ireland Economy Data
5 years of Ireland economic forecasts for more than 30 economic indicators.
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|Bond Yield||0.49||-1.84 %||Oct 19|
|Exchange Rate||1.10||-0.06 %||Oct 19|
|Stock Market||6,000||-0.10 %||Oct 19|
Ireland Economic Growth
September 27, 2016Ireland’s economic headwinds are mounting. The Brexit vote is expected to generate uncertainty in the short-term while the long-term impact will be entirely dependent on the outcome of the negotiations. Furthermore, the European Commission ruling on Ireland’s tax arrangement with Apple could result in greater uncertainty and slower investment and exports growth. FocusEconomics panelists foresee GDP growing 4.1% in 2016, which is down 0.3 percentage points from last month’s forecast. In 2017, the panel expects GDP to expand 3.2%.
Ireland Economic News
October 11, 2016
Industrial production contracted 13.4% from the previous month in seasonally-adjusted terms in August, contrasting the revised 7.9% expansion in July (previously reported: +3.7% month-on-month).
October 10, 2016
In September, the KBC Bank Ireland/ESRI Consumer Sentiment Index dropped from 102.7 points in August to 102.0 points.
October 6, 2016
The Investec Services Purchasing Managers’ Index (PMI) nosedived from 59.7 in August to 56.2 in September, the lowest reading since February 2014.
October 3, 2016
The Investec Manufacturing Purchasing Managers’ Index (PMI) edged down from 51.7 in August to 51.3 in September.
September 21, 2016
The Irish national accounts data continues to be affected by distortions and volatility.