Irish Macro Economic Forecasts
Updated mid-June 2020
| Real GDP (% change) | 2019 | 2020(e) |
2021(f) | Comment |
| Personal Consumption | 2.8 | -12.0 | 8.0 | Non-food spending collapse in Lockdown |
| Government Consumption | 5.6 | 2.0 | 3.0 | Govt spending surge but on transfers |
| Capital Formation | 94.1 | 32.0 | 22.0 | extraordinarily volatile |
| - Building and Construction | 6.8 | -5.0 | 5.0 | strong start will support annual average |
| - Machinery, Equipment, Intangibles | 133.6 | 40.0 | 25.0 | largely GDP neutral as mostly imports |
| Stocks (% of GDP) | 0.5 | 0.6 | 0.9 | |
| Exports | 11.1 | 0.0 | 5.0 | Proving resilient to date. |
| Imports | 35.6 | 11.0 | 13.0 | dampened by fall in consumption |
| GDP | 5.5 | -3.5 | 5.0 | coronavirus longevity big unknown |
| GNP | 3.3 | -4.0 | 5.0 | |
| Domestic Demand | 35.3 | 12.0 | 16.0 | |
| GDP (€bn) | 347.2 | 335.0 | 351.0 | |
| Labour Market | ||||
| Employment (% change) | 2.9 | -3.0 | 4.0 | |
| Unemployment rate (%) | 4.9 | 9.3 | 8.6 | |
| Inflation | ||||
| CPI (% change) |
0.9 | -0.5 | 0.5 | Collapse in oil prices main factor |
| HICP (% change) |
0.7 | 0.6 | 0.5 | |
| Fiscal Indicators |
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| Government Debt ( % of GDP) |
58.8 | 65.7 | 65.5 | |
| General Government Balance (% of GDP) |
0.4 | -6.0 | -4.0 |