Ireland’s economy has continued to go from strength to strength since our last report. GDP grew by 7.8% in 2015, leaving Ireland at the top of the European leaderboard for the second year running. While exports remain strong, a continued pick-up in the demand for consumer goods means imports are also growing quickly, somewhat offsetting the contribution of net trade to GDP growth. Therefore, the recent expansion has been largely home-grown, with domestic demand rising by 8.6% last year. Employment growth has accelerated to 2.4%, with almost 47,000 jobs created in the twelve months to Q1. As a result, unemployment is falling, earnings are rising and aggregate household disposable incomes are back to their pre-crisis peak.
Source : Savills