Irish Macro Economic Forecasts
Updated mid-April 2021
| Real GDP (% change) | 2019 | 2020(e) |
2021(f) | Comment |
| Personal Consumption | 3.2 | -9.0 | 6.5 | Jump in savings ratio to partially unwind |
| Government Consumption | 6.3 | 9.8 | 6.5 | Govt spending surge to support economy |
| Capital Formation | 74.8 | -32.3 | 15.0 | extraordinarily volatile |
| - Building and Construction | 8.0 | -9.1 | -9.5 | Lockdown impact |
| - Machinery, Equipment, Intangibles | 98.7 | -37.0 | 22.0 | now dominated by Intangibles |
| Stocks (% of GDP) | 0.5 | 1.5 | 1.0 | |
| Exports | 10.5 | 6.2 | 7.0 | Proving remarkably resilient |
| Imports | 32.4 | -11.3 | 9.3 | will rebound with domestic demand |
| GDP | 5.5 | 3.4 | 6.5 | |
| GNP | 3.3 | 0.6 | 7.5 | |
| Domestic Demand | 32.4 | -18.1 | 9.4 | |
| GDP (€bn) | 356.2 | 366.5 | 399.0 | |
| Labour Market | ||||
| Employment (% change) | 2.9 | -1.2 | -0.8 | |
| Unemployment rate (%) | 4.9 | 5.6 | 6.8 | Official rate , not Covid related estimate |
| Inflation | ||||
| CPI (% change) |
0.9 | -0.3 | 0.9 | Collapse in oil prices big factor last year |
| HICP (% change) |
0.7 | -0.5 | 1.1 | |
| Fiscal Indicators |
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| Government Debt ( % of GDP) |
58.8 | 59.6 | 62.0 | r<g for some time now |
| General Government Balance (% of GDP) |
0.4 | -5.0. | -4..2 | Budget growth assumptions too low |