Ireland’s economy has continued on the front foot since our last report with real GDP growing at an annualised 6.7% in Q2. Favourable tailwinds, including a weak Euro and solid external demand, have contributed to a fifth successive quarter of double-digit exports growth. However, the domestic economy is also responding to a continued improvement in the jobs market, low oil prices and rockbottom interest rates. Unemployment dipped below 9% in October for the first time in nearly seven years and earnings growth is up to 2.7% per annum. This has propelled domestic demand growth into double digits and the internal economy is now expanding at its fastest rate for almost 10 years.
Source : Savills