Ireland's economy grew by 1.8 percent on quarter in the three months to December 2019, following an upwardly revised 2.1 percent in the previous period. Fixed investment jumped 122.9 percent (vs -54.1 percent in Q3), driven by IPP, and government spending advanced 0.8 percent (vs 1.4 percent in Q3), while household consumption stagnated (vs 0.7 percent in Q3). Also, imports surged 34 percent (vs -21.6 percent in Q3) while exports rose at a much softer 2.0 percent (vs 2.1 percent in Q3). On the production side, information & communication was the biggest driver of growth, while manufacturing output contracted. Year-on-year, the GDP growth picked up to 6.2 percent from 4.5 percent. Considering 2019 full year, the economy expanded 5.5 percent, the weakest rate since 2016.
GDP Growth Rate in Ireland averaged 1.43 percent from 1995 until 2019, reaching an all time high of 23.20 percent in the first quarter of 2015 and a record low of -5.90 percent in the first quarter of 2017. This page provides - Ireland GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Ireland GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020. source: Central Statistics Office Ireland
GDP Growth Rate in Ireland is expected to be -16.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Ireland to stand at 2.60 in 12 months time. In the long-term, the Ireland GDP Growth Rate is projected to trend around 1.50 percent in 2021 and 0.70 percent in 2022, according to our econometric models.