DAVY VIEW

Ireland’s GDP rose by 0.7% in Q2 2019, up 5.8% on the year. Hence, we expect to revise up our current forecast for GDP growth from 5% currently towards 6%. Initial projections have been too pessimistic as Irish households have shrugged off Brexit uncertainty (consumer spending up 3.1% in year to Q2 2019) and there has been little sign of exports slowing, up 11% on the year.