Ireland Economic Outlook
December 20, 2019Economic activity rebounded in the third quarter, after having contracted in the second quarter. Q3’s upturn was underpinned by a positive contribution from net trade as export growth held stable and imports contracted amid falling purchases of intellectual property products. On the domestic side, government expenditure picked up pace in Q3, while household spending remained subdued despite improving and fixed investment contracted. Turning to the fourth quarter, available data is mixed. Manufacturing output fell in October and the manufacturing PMI fell back into negative territory in November. In contrast, the services PMI rose to a three-month high in November on the back of firmer demand. In the same month, consumer sentiment rose for the first time in five months as households’ expectations for the coming year turned less pessimistic.
Ireland Economic GrowthGrowth is seen easing next year on shrinking domestic demand and a weaker trade performance. Private consumption is expected to lose pace, while fixed investment is seen falling. Brexit, coupled with potential overheating due to a low unemployment rate and diminishing spare capacity, pose key risks to the outlook. FocusEconomics panelists expect GDP to grow 3.1% in 2020, which is up 0.1 percentage points from last month’s forecast, and 2.9% in 2021.
Ireland Economy Data
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|Bond Yield||-0.09||0.27 %||Jan 01|
|Exchange Rate||1.12||0.65 %||Dec 31|
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Ireland Economic News
January 10, 2020
The KBC Bank Ireland/ESRI consumer sentiment rose for the second month straight in December.
January 6, 2020
Business activity in the Irish service sector accelerated markedly in December, as reflected by the AIB service Purchasing Managers’ Index (PMI) rising to 55.9 from 53.7 in November.
January 2, 2020
Business conditions in the Irish manufacturing sector continued to deteriorate in December, albeit the downturn was mild.
December 13, 2019
The economy grew 1.7% in quarter-on-quarter and seasonally-adjusted terms in the third quarter, rebounding from a revised 0.1% contraction in the second quarter (previously reported: +0.7% quarter-on-quarter, seasonally adjusted).
December 5, 2019
The highly volatile Irish manufacturing industries production index contracted in October, falling 0.3% in seasonally-adjusted, month-on-month terms, contrasting the revised 9.1% expansion in September (previously reported: +9.4% month-on-month).