Irish economy projected to grow 2.5% in 2024 and 3.2% in 2025, with decreasing inflation and unemployment, according to ESRI.

The Irish economy is expected to grow by 2.5% in 2024 and 3.2% in 2025, according to the ESRI. Real wages in Ireland increased for the first time in over two years in April, driven by a combination of factors including an improving global economic situation, a quicker-than-expected easing of inflation, and a robust domestic labour market. The ESRI forecasts a decrease in inflation to 2.3% in 2024 and 1.9% in 2025, while unemployment is projected to fall from 4.1% to 4%. However, geopolitical tensions and capacity constraints in the housing sector pose risks to the projected growth.

June 27, 2024
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