Posted in: Ireland Outlook
Ireland Outlook – May 2025
New Ireland Economic Forecasts
We have revised down our forecasts for Irish GDP growth to 3.5% in 2025 and 3.7% in 2026. This forecast entails softer, but still robust growth, due to the negative impact of uncertainty on consumer and investment spending. Also, the 10% baseline tariffs that now apply to 2-3% of Irish trade will weigh on export growth in 2026, alongside the weaker outlook for the global economy. Of course, the economic outlook is now uncertain. First, trade tensions could still escalate. Second, tariffs have already added enormous volatility to Irish GDP data via a surge in exports to the United States, which will likely unwind later in 2025.
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