Current Account in Ireland
Ireland - Current AccountChallenging external conditions and downbeat economic sentiment appeared to weigh on activity in the second quarter after surging in Q1. Merchandise export growth fell, shrinking for the first time in 15 months in June. Meanwhile, retail sales decelerated throughout the quarter and consumer confidence turned more pessimistic, suggesting that household spending lost steam in Q2 despite the unemployment rate falling. Moreover, the manufacturing PMI slid throughout the quarter, falling into contractionary territory in June. On the upside, industrial activity made greater gains in the second quarter, although a downward trend hints at a slowdown ahead, while the services PMI rose in the quarter. Turning to the third quarter, survey-based data continued to point to a two-speed economy: In July, the manufacturing PMI tumbled to an over six-year low, while the services PMI indicated a brisk, albeit moderating, expansion.
Ireland - Current Account Data
|Current Account (% of GDP)||1.6||1.1||4.4||-4.2||0.5|
5 years of economic forecasts for more than 30 economic indicators.
Ireland Current Account Chart
Source: Central Statistics Office Ireland and FocusEconomics calculations.
|Bond Yield||-0.33||0.27 %||Sep 04|
|Exchange Rate||1.10||0.65 %||Sep 04|
|Stock Market||5,962||-0.39 %||Sep 04|
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September 5, 2019
The highly volatile Irish manufacturing industries production index rebounded from a revised 9.9% contraction in seasonally-adjusted, month-on-month terms in June (previously reported: -9.0% month-on-month) to a 1.3% expansion in July.
September 4, 2019
Business conditions in the Irish service sector softened slightly in August, reflected by a fall in the AIB service Purchasing Managers’ Index (PMI) to 54.6 from 55.0 in July, marking the worst print since January 2018.
September 2, 2019
Business conditions in the Irish manufacturing sector worsened for the third consecutive month in August and marked the sharpest contraction since April 2013.
August 13, 2019
The KBC Bank Ireland/ESRI consumer sentiment index tumbled in July, dropping to 85.5 points from June’s 90.9 points—the worst reading since November 2014.
August 6, 2019
The highly volatile Irish manufacturing industries production index fell 9.0% in seasonally-adjusted, month-on-month terms in June, contrasting a revised 3.1% rise in May (previously reported: +2.5% month-on-month).