Current Account in Ireland

Ireland Current Account | Economic News & Forecasts

Ireland - Current Account

Available data signals the economy lost traction in the second quarter, largely owing to the unwinding of Brexit-related stockpiling. The manufacturing PMI tumbled to a near three-year low in May, as firms wound down inventories owing to the Brexit delay, after building up stocks in Q1 to guard against a potential no-deal scenario at the end of March. Moreover, despite increased bank lending and the unemployment rate at an over one-decade low, retail sales growth weakened in April as inflation soared to a near seven-year high and households turned more pessimistic. That said, the second-quarter’s expansion seems healthy overall. Export growth was solid in April, aided by a weaker euro against the sterling, while activity in the services sector strengthened. Moreover, slightly less downbeat consumer confidence, easing price pressures and a slide in the unemployment rate to an over 14-year low in May could have spurred higher spending.

Ireland - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)1.6  1.1  4.4  -4.2  8.5  

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Ireland Current Account Chart

Ireland Current Account
Note: Current account balance as % of GDP.
Source: Central Statistics Office Ireland and FocusEconomics calculations.

Ireland Facts

Bond Yield-0.110.27 %Jul 11
Exchange Rate1.130.65 %Jul 11
Stock Market6,276-0.39 %Jul 11

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