European Commission forecasts Ireland's economy to contract in 2024 but rebound strongly by 2026.

The European Commission predicts Ireland's economy will contract by 0.5% in 2024 due to a decline in the multinational sector but anticipates a rebound with 4% growth in 2025 and 3.6% in 2026. Unemployment is expected to remain stable at 4.4%, and inflation is forecast to be low, dropping to 1.4% this year. The EU's GDP growth is projected at 0.9% in 2024, rising to 1.5% in 2025 and 1.8% in 2026. However, growing geopolitical tensions and potential protectionist measures pose risks to the forecast.

November 15, 2024
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