Irish Macro Economic Forecasts
Updated mid-June 2021
| Real GDP (% change) | 2020 | 2021(e) |
2022(f) | Comment |
| Personal Consumption | -9.0 | 4.0 | 6.0 | Jump in savings ratio to partially unwind |
| Government Consumption | 9.8 | 6.5 | 4.0 | Govt spending surge to fade |
| Capital Formation | -32.3 | 2.0 | 15.0 | extraordinarily volatile |
| - Building and Construction | -9.1 | -10.0 | 15.0 | Lockdown impact |
| - Machinery, Equipment, Intangibles | -37.0 | 5.0 | 15.0 | now dominated by Intangibles |
| Stocks (% of GDP) | 0.5 | 1.5 | 1.0 | |
| Exports | 6.2 | 12.0 | 7.0 | Proving remarkably resilient |
| Imports | -11.3 | 8.5 | 9.0 | will rebound with domestic demand |
| GDP | 3.4 | 9.5 | 6.2 | |
| GNP | 0.6 | 6.0 | 7.0 | |
| Domestic Demand | -18.1 | 3.0 | 9.0 | |
| GDP (€bn) | 366.5 | 393.0 | 424.0 | |
| Labour Market | ||||
| Employment (% change) | -1.2 | -0.6 | -0.8 | |
| Unemployment rate (%) | 5.6 | 6.2 | 5.7 | Official rate , not Covid related estimate |
| Inflation | ||||
| CPI (% change) |
-0.3 | 1.5 | 1.5 | Collapse in oil prices big factor last year |
| HICP (% change) |
-0.5 | 1.6 | 1.4 | |
| Fiscal Indicators |
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| Government Debt ( % of GDP) |
59.6 | 60.4 | 59.0 | r<g for some time now |
| General Government Balance (% of GDP) |
-5.0 | -4.1. | -2.8 | Budget growth assumptions too low |