Continued Growth In The Irish Economy but Challenges Remain

The CSO has published national accounts data measuring the performance of Irish economy for the first three quarters of 2019.

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It has been a strong year for the economy despite the uncertainty over brexit and the reduction in global activity. The two main engines of growth are consumer spending and exports, with an emphasis on service exports.

The CSO data showed that there was an increase in consumer spending at a steady rate of 3.5%. Construction output rose by 2.4% in the first three quarters of 2019 having grown by 11% in the year 2018.

The data shows that the unemployment rate continues to move lower, while the jobless rate fell to 4.9%.

The long-term employment rate has fallen to 1.4%, which means that the economy is very close to near full employment.

See more at: Irish Economy Strong Despite Many Challenges