Irish Macro Economic Forecasts
Updated mid-September 2020
| Real GDP (% change) | 2019 | 2020(e) |
2021(f) | Comment |
| Personal Consumption | 3.2 | -12.0 | 8.0 | Non-food spending collapse in Lockdown |
| Government Consumption | 6.3 | 10.0 | 3.0 | Govt spending surge to support economy |
| Capital Formation | 74.8 | 24.0 | -21.0 | extraordinarily volatile |
| - Building and Construction | 6.8 | -6.5 | 5.0 | strong start but 35% fall in q2 |
| - Machinery, Equipment, Intangibles | 133.6 | 30.0 | -25.0 | largely GDP neutral as mostly imports |
| Stocks (% of GDP) | 0.5 | 1.2 | 0.9 | |
| Exports | 10.5 | 2.0 | 4.0 | Proving resilient to date. |
| Imports | 32.4 | 10.0 | -6.5 | dampened by fall in consumption |
| GDP | 5.5 | -1.5 | 3.8 | coronavirus longevity big unknown |
| GNP | 3.3 | -3.0 | 4.0 | |
| Domestic Demand | 32.4 | 10.0 | -10.0 | |
| GDP (€bn) | 356.2 | 352.0 | 367.0 | |
| Labour Market | ||||
| Employment (% change) | 2.9 | -2.3 | 0.5 | |
| Unemployment rate (%) | 4.9 | 5.8 | 7.1 | |
| Inflation | ||||
| CPI (% change) |
0.9 | -0.3 | 0.9 | Collapse in oil prices main factor |
| HICP (% change) |
0.7 | -0.5 | 1.0 | |
| Fiscal Indicators |
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| Government Debt ( % of GDP) |
58.8 | 62.4 | 62.7 | |
| General Government Balance (% of GDP) |
0.4 | -6.0 | -4.0 | Tax well ahead of profile |