The Full Picture
by AIB Treasury Economic Research Unit
- The scale of Irish contract manufacturing, whereby a company based in Ireland engages a firm abroad to manufacture products on its behalf, has grown enormously since 2015.
- Industrial production data for April show that Irish GDP is already on course to rebound in Q2. Manufacturing output fell by 45% in March, causing the marked decline in GDP.
- In this regard, the Q1 National Accounts show that modified final domestic demand grew by 2.7% in the quarter to leave it 5.5% higher on a year-on-year basis.
- Thus, the economy is continuing to perform strongly. That said, the pace of growth is slowing down.
|
|
