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 |
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| 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 |