According to the respected think tank the ESRI GDP will shrink by 2.7% this year but rise by 2.3% next year. But more importantly modified domestic demand will grow overall this year by a far more modest 0.6% and by 2% next year.
The ESRI quarterly assessment of the economy says that inflation will just above 2% next year and unemployment will fall to 4.3% - suggesting a healthy economy. But it warns of global factors which could push Ireland off course.
To discuss further with Joe was Conor O’Toole Associate Research Professor at the ESRI .