Ireland's technical recession may have passed, a new analysis has predicted.
KPMG’s latest economic outlook is forecasting that growth rates of up to 3% may be achieved next year.
However, the research also warns that global trade complexities could hamper the country’s growth potential.
It also warns that export-facing business need to be prepared for these challenges ahead.
"At a time of significant global economic and geo-political uncertainty, Ireland’s economy appears relatively resilient," said Daragh McGreal, Economist at KPMG.
"The outlook is for more modest growth in 2024, mirroring more typical growth rates seen in other mature economies, however there are risks to consumption from 'higher for longer’ interest rate impacts."
He added that falls in prices are only now starting to feed through to customers.
"The central outlook is for a gradual easing in energy prices and a restoration of real incomes to pre-2022 levels, retail energy prices are likely to stay elevated and will remain vulnerable to further volatility in the energy market," he said.
Mr McGreal also said that the volatility we have seen in corporation tax receipts in 2023 is an indication that more cautious budgetary policy may be required.
While significant levels of investment in infrastructure, housing, healthcare and renewables are needed over the coming years.
On property, the KPMG research suggests there is an indication of further growth ahead in completions into 2024, despite supply pressures this year.
While it also hints a t recovery in commercial property by 2025.
