Quarterly Economic Commentary, Winter 2020

This Commentary highlights a significant recovery in the Irish economy in Q3 coinciding with the easing of restrictions over this period. Exports continued to perform very strongly in Q3, propped up by an ongoing strong performance in medicinal and pharmaceutical products and computer services. Consumption and Investment were also significantly improved relative to Q2 but are expected to be lower for the full year. As a result of the strong export performance in particular, our GDP forecast for 2020 has been revised up and we now expect the Irish economy to grow by 3.4 per cent this year.