Irish economy - Irish GDP likely to grow by 7% in 2018 after Q2 out-turn

Davy Research
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Today’s Irish GDP data show a 2.5% rise in Q2, with activity bouncing back after a 0.4% contraction in Q1. Overall, GDP is up 9% in H1 2018 versus last year. This means we will have to revise up our forecasts for calendar year GDP growth in 2018 towards 7%. The multinational sector may be boosting the headline figures, but growth is broad based across construction (+12%), non-ICT services (+4%) and manufacturing (+12%).