Irish Macro Economic Forecasts
Updated mid-March 2020
| Real GDP (% change) | 2018 | 2019 |
2020(f) | Comment |
| Personal Consumption | 3.4 | 2.8 | 3.2 | strong income growth not reflected in spending |
| Government Consumption | 4.4 | 5.6 | 3.0 | Govt spending corporate tax windfall |
| Capital Formation | -21.1 | 94.1 | 16.5 | High volatility |
| - Building and Construction | 12.5 | 6.8 | 4.0 | supply constraints in construction |
| - Machinery, Equipment, Intangibles | -30.4 | 133.6 | 20.0 | Huge swings in Intangibles and aircraft |
| Stocks (% of GDP) | 0.4 | 0.5 | 0.4 | |
| Exports | 10.4 | 11.1 | 9.0 | Contract manufacturing big impact |
| Imports | -2.9 | 35.6 | 13.0 | Volatility reflects capital formation |
| GDP | 8.2 | 5.5 | 4.5 | coronavirus impact huge unknown |
| GNP | 4.4 | 3.3 | 4.1 | |
| Domestic Demand | -8.6 | 35.3 | 8.5 | Distorted by investment volatility |
| GDP (€bn) | 324.0 | 347.2 | 367.0 | |
| Labour Market | ||||
| Employment (% change) | 2.9 | 2.9 | 2.0 | |
| Unemployment rate (%) | 5.8 | 4.9 | 4.8 | At or near full employment |
| Inflation | ||||
| CPI (% change) |
0.5 | 0.9 | 1.3 | Sterling deflationary impact to fade |
| HICP (% change) |
0.7 | 0.9 | 1.3 | remarkably low to date relative to euro average |
| Fiscal Indicators |
||||
| Government Debt ( % of GDP) |
63.6 | 58.6 | 55.6 | Ratio flattered by surge in GDP |
| General Government Balance (% of GDP) |
0.0 | 0.4 | 0.0 | 2020 Budget looks redundant |