Irish economy Autumn 2023: domestic growth continues to be robust while multinational activity slows
Watch co-authors Dr Conor O'Toole and Prof Kieran McQuinn deliver a presentation on the ‘Quarterly Economic Commentary, Autumn 2023’.
📉We expect GDP, which is very heavily influenced by the Multinational Enterprise (MNE) sector, to contract this year by 1.6%.
📈 On the other hand, modified domestic demand (MDD), which captures consumption and modified investment, is set to increase by 1.8% in the present year.
🛒 Inflation is still exerting a negative impact on the Irish outlook. We expect the Consumer Price Index (CPI) to increase by 6% in the present year and 3.2% in 2024.
👷👩🍳👩⚕️ The Irish labour market continues to perform robustly, with unemployment stabilising at approximately 4% over the past year.
🏗️ Targeting expenditure towards addressing infrastructure bottlenecks and improving the productive capacity of the economy can alleviate capacity constraints in the medium term.
Read the Quarterly Economic Commentary, Autumn 2023 on our website: https://www.esri.ie/publications/quar...
Subscribe to the ESRI monthly newsletter: https://www.esri.ie/sign-up-for-the-e...