Moderate growth beneath volatile Irish GDP data
by AIB Treasury Economic Research Unit
- This week’s Irish GDP data provide the first full breakdown of the economy in Q2 2024.
- Other reliable domestic indicators point to continued robust growth in the Irish economy, including compensation of employees, up 3.7% y/y, mirroring the strong employment and wage growth in Q2.
- Elsewhere, this week’s exchequer returns also signalled ongoing growth in the Irish economy, with domestically-driven VAT receipts up 6% y/y in the three months to end-September, while income taxes were up 7% over the same period.
- Turning to the week ahead, the monetary policy spotlight will be on the ECB meeting this Thursday.
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