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The IMF is predicting the Irish economy, as measured by GDP will expand by just 1.5% this year, down from an earlier forecast of 3.3% in October

IMF cuts Irish growth forecast for this year

The International Monetary Fund has revised downwards its projection for economic growth in Ireland this year.

The AIB Global S&P Purchasing Managers' Index (PMI) rose to 54.4 in February from 50.5 in January

Service sector growth picks up in February - PMI survey

The service sector here grew at its fastest pace in five months in February after slowing to a near standstill a month earlier, as firms reported rising levels of new business across all sectors, a survey showed today.

Business • 05 Mar 24

Modified Domestic Demand, which more closely tracks the domestic economy, grew by 0.5% in 2023, new CSO figures show today

Economy, as measured by GDP, contracted by 3.2% in 2023

New figures from the Central Statistics Office show that the country's GDP shrank by 3.2% last year on the back of a contraction in the multinational dominated industry sector.

Business • 01 Mar 24

The ESRI's 'Nowcast' research predicts that Modified Domestic Demand (MDD) expanded by 3.7% in December

ESRI estimates strong MDD growth of 3.7% in December

A new estimate suggests that the domestic economy here grew reasonably strongly in December, despite challenging conditions.

Business • 26 Feb 24

All of the constituent parts of the index lost ground in February

Consumer sentiment dips in February after January bounce

Consumer sentiment fell again in February, undoing some of the gains it made a month earlier.

Business • 26 Feb 24

In its Winter forecast today, the European Commission said Ireland's GDP growth outlook for 2024 has been adjusted 'substantially'

Commission cuts Irish growth forecasts to 1.2% from 3%

The European Commission has today revised down its expectations for the performance of the Irish economy in its Winter 2024 Economic Forecast, which was published today.

Business • 15 Feb 24

According to EY, Ireland is set to outperform many economies around the world.

EY forecasts 'reasonably solid' economic growth

Growth in the Irish economy will be "reasonably solid" in the coming years, according to the latest economic forecast from professional services firm EY.

Business • 08 Feb 24

The report notes that the distortions from MNCs and 'contract manufacturing' - which artificially pushed up on GDP growth in 2022, but down in 2023 - have now played out

Export-led hit to the economy likely 'temporary' - BoI

The slowdown in multinational exports that arose largely from a hit to the pharmaceutical sector last year is likely to have been temporary, according to Bank of Ireland in its latest Economic Outlook.

Business • 06 Feb 24

GDP for the full year 2023 is estimated to have decreased by 1.9%, when compared with 2022, today's flash figures from the CSO show

GDP down 1.9% in 2023, CSO's preliminary estimate shows

New preliminary figures from the Central Statistics Office show that the country's GDP is estimated to have fallen by 0.7% in the fourth quarter of 2023 compared with the third quarter of last year.

Business • 26 Jan 24

2023's 'recession' may be the most peculiar the Irish economy has ever experienced

2023 sees end of economic boom but no sign of bust yet

The revision of national accounts data by the Central Statistics Office in early December confirmed the economy officially entered a recession this year.

Business • 23 Dec 23

The ESRI now expects the economy measured by GDP to shrink by 2.7% this year before bouncing back next year.

ESRI further downgrades economic growth forecast

The Economic and Social Research Institute has further downgraded its forecast for growth in the economy this year.

Business • 14 Dec 23

Ireland had the biggest GDP contraction in the euro zone down 1.8%, during the third quarter, new Eurostat figures show

Euro zone's third quarter GDP contracts by 0.1%

The euro zone economy contracted by 0.1% in the three months to the end of September, new data from Eurostat, the European Union's statistics office, has confirmed.

Business • 07 Dec 23

The Minister for Public Expenditure and Reform Paschal Donohoe says there is no vacancy at the IMF at present

Donohoe won't rule himself out of running for IMF job

Minister for Public Expenditure and Reform Paschal Donohoe has refused to categorically rule himself out of the running to be the next Managing Director of the International Monetary Fund.

Business • 06 Dec 23

The index reached 54.2 last month, up from 52.6 in October

Growth in service sector picks up in November

The rate of growth in the service sector picked up in November, new figures show.

Business • 05 Dec 23

The economy, as measured by gross domestic product, fell by 1.9% in the three months to the end of September, new CSO figures show

Latest CSO figures confirm economy in recession

Figures today from the Central Statistics Office confirm that the economy is in recession, as the economy - as measured by gross domestic product (GDP) - fell by 1.9% in the three months to the end of September.

Business • 01 Dec 23

The European Commission has predicted that the Irish economy - as measured by GDP - will fall by 0.9% this year

EU cuts Irish and euro zone growth forecasts for 2023

The European Commission has sharply revised downwards its forecasts for growth in the Irish economy measured by Gross Domestic Product (GDP), mostly due to falls in exports by multinational companies.

Business • 15 Nov 23

A team from the IMF has just concluded its annual review of the Irish economy

IMF warns on 'considerable external risks' for economy

The International Monetary Fund (IMF) has said the Irish economy has "strengthened considerably" on the back of strong tax revenues but the positive outlook is "clouded by considerable external risks".

Business • 03 Nov 23

The AIB Global S&P Purchasing Managers' Index (PMI) fell to 52.6 in October from 54.5 in September

Service sector growth slows for sixth month in a row

The rate of expansion in the country's services sector slowed for the sixth month in a row in October with a survey today showing it at the second-weakest level of the current 32-month upturn.

Business • 03 Nov 23

The ESRI has cautioned against any cuts in taxes in the upcoming Budget that go beyond keeping pace with inflation

ESRI forecasts slowdown in Irish economy this year

A fall in exports and lower consumer spending in the face of higher inflation will lower the growth rate in the economy this year, according to the Economic and Social Research Institute.

Business • 04 Oct 23

New orders fell at the fastest pace so far this year in September, following a brief rebound during August, the latest PMI shows

Fresh setbacks for manufacturing in September

The manufacturing sector experienced some renewed headwinds in September which saw the index going back into contractionary mode having bounced back in August.

Business • 02 Oct 23

The Central Bank forecasts that inflation, measured by the Harmonised Index of Consumer Prices, will average at 5.4% this year

Economic growth to slow as exports weaken - report

The Central Bank has lowered its forecasts for growth in the economy based on weaker exports from multinationals in Ireland, but has left its outlook for inflation broadly unchanged.

Business • 19 Sep 23

Higher operating costs continued to be passed on in higher selling prices, the data shows.

Activity in Ireland's service sector continues to grow

Activity in the service sector continued to grow in August, new figures show.

Business • 05 Sep 23

Discounting of prices continued, albeit at lower rates, AIB said today

Irish manufacturing expands for first time in 6 months

The manufacturing sector in Ireland expanded for the first time in six months last month.

Business • 01 Sep 23

Irish consumers focused their spending on experiences such as travel and entertainment

Irish economy will outperform EU peers - Mastercard

The Irish economy will continue to outperform its EU peers, according to the Mastercard Economics Institute, as consumer fundamentals remain strong.

Business • 15 Aug 23

The AIB S&P Global Purchasing Managers' Index for the services industry was almost unchanged in July at 56.7 compared to 56.8 in June

Service growth remains robust, inflation pressures ease

Service sector growth remained robust in July amid a strengthening in business sentiment and a slight easing in still high input and output cost pressures, a survey showed today.

Business • 03 Aug 23

Irish Economy