Current Account in Ireland
Ireland - Current Account (billions of Euros)Following strong growth in Q2, underlying economic dynamics seemed favorable in Q3, although headline GDP figures will be constrained by a tougher base effect and affected by distortions caused by multinationals. Significant accumulated savings, lower unemployment, greater consumer confidence and looser Covid-19 restrictions likely allowed for a robust expansion of private consumption, as suggested by solid retail sales growth. Nonetheless, supply bottlenecks will have limited activity to an extent, with the manufacturing PMI down slightly on Q2, while harmonized inflation rose to a 13-year high in September, likely denting consumers’ purchasing power. Turning to Q4, both the services and manufacturing PMIs were elevated in October. However, rising Covid-19 cases forced a reintroduction of some restrictions in November, which, along with surging inflation, could be taking the edge off activity.
Ireland - Current Account (EUR bn) Data
|Current Account Balance (EUR bn)||11.6||-11.4||1.5||34.3||-32.8|
5 years of economic forecasts for more than 30 economic indicators.
Ireland Current Account (EUR bn) Chart
Source: Central Statistics Office Ireland and FocusEconomics calculations.
|Bond Yield||-0.09||0.27 %||Jan 01|
|Exchange Rate||1.12||0.65 %||Dec 31|
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November 8, 2021
Industrial production grew 3.5% month-on-month in seasonally-adjusted terms in September (August: -4.2% mom).
November 3, 2021
The IHS Markit Services Purchasing Managers’ Index (PMI) fell to 63.4 in October from September's 63.7.
November 1, 2021
The IHS Markit Manufacturing Purchasing Managers' Index (PMI) rose to 62.1 in October from September's 60.3.
October 22, 2021
Consumer confidence rose to 86.8 in October from September's 86.4.
October 7, 2021
Industrial production dropped 2.8% in month-on-month seasonally-adjusted terms in August, which contrasted July's 6.9% increase. On an annual basis, overall industrial production rose 24.3% in August, which was notably better than July’s 15.4% expansion.