Quarterly Economic Commentary, Winter 2021

Despite continued uncertainty surrounding the COVID-19 pandemic, we expect overall strong growth this year, with Irish GDP set to increase by 13.6 per cent. The double-digit growth rate is largely due to multinational related activities, in particular strong export figures. However, the domestic economy as measured by modified domestic demand (MDD), is expected to grow by 6.2 per cent in the present year. Into 2022, we expect a continued strong performance of the economy, with both MDD and GDP set to increase by 7 per cent.