Ireland Economic Forecast

Ireland Economic Outlook

November 21, 2017

The 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 Growth

Ireland’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%.

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Ireland Facts

Bond Yield0.490.27 %Dec 06
Exchange Rate1.180.65 %Dec 06
Stock Market6,973-0.39 %Dec 06

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