Looking Under the Bonnet
by AIB Treasury Economic Research Unit
- Recently published National Accounts data by the CSO underline the exceptional performance of the Irish economy in 2021 and 2022, as it rebounded strongly from the COVID-19 pandemic
- The backdrop is much less favourable for the Irish economy in 2023, with a slowdown in global growth, interest rates on the rise, high inflation, and significant capacity constraints emerging in the economy
- This weakness in exports points to a marked slowdown in the pace of growth in the Irish economy in 2023
- As is widely acknowledged, GDP can give a misleading picture of the underlying performance of the Irish economy
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