Irish economic growth forecasts cut as spending slows

The Economic and Social Research Institute ( ESRI ) has cut its domestic economic growth forecasts for a third time this year as households and businesses rein in spending amid the cost-of-living crisis , rising interest rates and a slowdown in global economic activity . Irish modified domestic demand (MDD), which strips out some of the ways multinationals can distort activity, is now expected to expand by 0.6 per cent this year, the ESRI said in its latest quarterly outlook report.

That equates to a third of the pace projected two months ago and a fraction of the 3.8 per cent growth rate outlined in its first report of the year. The ESRI has also gradually reduced its MDD estimate for next year to 2 per cent, half the rate predicted at the start of the year

Source: Loan Digest (loandigest.net)

ESRI Economic Growth Domestic Demand Spending Cost-Of-Living Crisis Interest Rates Global Economic Activity

Ireland Latest News, Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Facebook's Irish arm challenges proposed ban on processing personal data for advertisingThe Irish arm of Facebook-parent company Meta has brought a High Court challenge against a proposed immediate ban on its Facebook and Instagram platforms from processing personal data for use in behavioural advertising
Source: rtenews - 🏆 1. / 99 Read more »

South Africa's-winning coach Jacques Nienaber to join Irish rugby teamJacques Nienaber, the winning coach of South Africa, is expected to join the Irish rugby team before their match against Munster. His arrival has been delayed due to commercial commitments, but he may join the squad by the end of the week or for their next game against Leinster.
Source: IrishTimesSport - 🏆 2. / 99 Read more »

British-born Irish face acceptance challenges in IrelandThe ‘mockery’ dished out to the Irish with British accents: ‘We don’t even have a name, a collective identity. Nobody calls us British-Irish’, via IrishTimesWorld
Source: IrishTimes - 🏆 3. / 98 Read more »

Seven of the Best Irish Websites for Christmas Shopping OnlineA list of excellent Irish-based retailers for online Christmas shopping, encouraging early and local shopping.
Source: IrishTimes - 🏆 3. / 98 Read more »

Jewish students feel isolated and fearful amid Irish-Israeli university linksAs rhetoric heats up over links between Irish and Israeli universities, some Jewish students on campus say they feel isolated and fearful. At a recent demonstration outside UCD’s O’Reilly Hall, hundreds of students and faculty members gathered at a Palestinian solidarity demonstration. The stated aim of the gathering, organised by the university’s students’ union and the Academics for Palestine group, was to call for a ceasefire in Gaza and a boycott of Israeli institutions. However, included among placards such as “stop the Gaza bombing” was a flag near the top of the platform for the Popular Front for the Liberation of Palestine (PFLP). The group, designated as a terrorist organisation by the EU and other jurisdictions, has praised the Hamas massacre of an estimated 1,200 people in Israel, mostly civilians, on October 7th last. For Dr Edward Burke, assistant professor in UCD’s school of history, it is the latest troubling incident for Jewish students and staff who are also mourning the “worst anti-Semitic atrocity committed this century”.
Source: IrishTimes - 🏆 3. / 98 Read more »

Irish Government calls for release of abducted girl in GazaThe Taoiseach has told the Dáil that Government is doing everything it can to facilitate the release of nine-year-old Emily Hand. Emily is believed to have been abducted by Hamas and is likely being held in Gaza. Leo Varadkar said Government was calling for a ceasefire in Gaza, which needs to be observed by all sides, along with the release of hostages.
Source: rtenews - 🏆 1. / 99 Read more »