There is now a growing sense that Ireland’s economy is on a sustainable recovery path. Reflecting the progress that has been made in rebalancing the public finances, and the improved perception of Ireland on world markets, the country exited its EU/IMF assistance programme in December without recourse to an emergency credit line.
This confidence appears to be justified by the latest national accounts data; GNP, which is the most representative barometer of activity in the Irish economy, expanded by 3.9% year-onyear in Q3. Meanwhile the strong labour market recovery which began almost two years ago has proved to be more than a flash-in-the-pan. Since Q1 2012 the private sector has been generating 4,600 new jobs per month in net terms, and total employment has risen by 3.3% in the last year - a remarkable figure by international standards.
Source : Savills