Ireland Economic Outlook
November 21, 2017The economy has been growing at a breakneck pace this year and is set to be among the fastest-growing economies in the Eurozone. Strong growth has enabled Ireland to heal its public finances, with the fiscal deficit narrowing substantially and public debt declining considerably in the past few years. More recent data confirms that the solid growth momentum carried into the fourth quarter. In October, the manufacturing and services PMIs posted strong growth; consumer confidence was equally positive as unemployment rests at a multi-year low. On 17 November, Prime Minister Leo Varadkar threatened to block Brexit talks if Theresa May’s government fails to provide written assurance that there will not be a physical border with Northern Ireland. Both parties appear to be at odds on how to deal with the border, due to the massive implications for the economy and political stability in Ireland.
Ireland Economic GrowthIreland’s strong economic momentum is set to continue in the foreseeable future on the back of robust growth in private consumption and fixed investment The economy does remain exposed to external risks, however, especially those related to Brexit. FocusEconomics panelists expect GDP to grow 3.5% in 2018, which is up 0.1 percentage points from last month’s forecast. In 2019, the panel expects growth to slow to 2.9%.
Ireland Economy Data
5 years of Ireland economic forecasts for more than 30 economic indicators.
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|Bond Yield||0.49||0.27 %||Dec 06|
|Exchange Rate||1.18||0.65 %||Dec 06|
|Stock Market||6,973||-0.39 %||Dec 06|
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Ireland Economic News
December 11, 2017
The highly volatile Irish industrial production index jumped from a revised 1.8% month-on-month expansion in September (previously reported: +0.7% month-on-month) to a strong 10.5% expansion in October.
December 5, 2017
The Investec services Purchasing Managers’ Index (PMI) dipped from 57.5 in October to 56.0 in November, the lowest reading since November 2016.
December 1, 2017
The Investec manufacturing Purchasing Managers’ Index (PMI) surged from 54.4 points in October to 58.1 points in November, the highest reading since December 1999.
November 10, 2017
The highly volatile Irish industrial production index rose 0.7% from the previous month in seasonally-adjusted terms in September, coming in below the revised 1.1% rise observed in August (previously reported: +1.5% month-on-month).
November 7, 2017
The KBC Bank Ireland/ESRI consumer sentiment index dropped from September’s over one-year high of 105.8 points to 104.8 points in October.