DAVY VIEW

Ireland’s economy grew rapidly in 2023 and into early 2024. Revised Central Statistics Office (CSO) data released on Friday (July 12th) showed core national income (GNI*) up 5% in real terms last year. This is reflected in wages and consumer spending, which were revised up. The latest data incorporate the most recent Census findings, which offer a more complete picture of the economy over the last number of years. The results align well with our above-consensus take on Ireland’s economic performance. Strong demand continues to be driven by sectors with high productivity growth, helped by an increasingly well-educated workforce and a rising population.