Your browser version is outdated. We recommend that you update your browser to the latest version.

 

 

 Irish Macro Economic Forecasts


 Updated mid-Sept 2021 

Real GDP (% change) 2020  2021(e)
 2022(f) Comment
   Personal Consumption -10.4 4.0 5.0 savings ratio still high
   Government Consumption 10.9 4.5 3.0 Govt supports unwinding
   Capital Formation -23.0 17.0 14.0  extraordinarily volatile
   -  Building and Construction -9.1  5.0 10.0 stronger residential
   - Machinery, Equipment, Intangibles -37.0 20.0 15.0  now dominated by Intangibles
  Stocks (% of GDP)  1.4  1.2  0.8  
  Exports 9.5 19.0 12.0 Proving  remarkably resilient
  Imports -7.4 15.0 12.0 will rebound with domestic demand
  GDP 5.9 16.0 9.5  
  GNP 3.4 9.0 9.0  
         
  Domestic Demand -14.8 10.0 9.0  
  GDP (€bn) 372.9  424.5 466.4  
         
 Labour Market        
   Employment (% change) -3.0  0.0 2.0  
  Unemployment rate (%) 5.8 6.9 6.4  Official rate , not Covid related estimate
         
Inflation        
   CPI (% change)
-0.3 2.0 2.0 may exceed 3.5% near term
   HICP (% change)
-0.5 2.0 1.9  
         
Fiscal Indicators
       
  Government Debt ( % of GDP)
58.5 58.4 53.6  r<g for some time now
  General Government Balance (% of GDP)
-4.9 -3.5. -2.5 deficit undershoot his year