Quarterly Economic Commentary, Summer 2024
Today, the Economic and Social Research Institute (ESRI) publish our Quarterly Economic Commentary, Summer 2024.
📊 Although the Irish economy contracted in 2023, we anticipate moderate growth in both headline and underlying indicators in 2024 and 2025.
📈 We now believe Modified Domestic Demand (MDD) will grow by 2.2% in 2024 and 2.9% in 2025, while we anticipate GDP to grow moderately at 2.5% this year and 3.2% in 2025.
📉 Overall, the pace of inflation is continuing to decrease. Compared to the higher inflation in many other European countries, inflation in Ireland is relatively low. This, combined with increasing nominal wages, has led to real wage growth for the first time in two years.
💼 The Irish labour market remains strong, with employment surpassing 2.7 million workers for the first time in modern history and unemployment at 4%.
Read more: https://www.esri.ie/news/persistent-p...
Download Quarterly Economic Commentary, Summer 2024 by Kieran McQuinn, Conor Mark O'Toole and Lea Hauser: https://www.esri.ie/publications/quar...