Friday’s trade data showed that Irish export performance, driven by the multinational sector, will make a strong positive contribution to GDP growth in Q4 2020 and likely through 2021. However, high frequency data show that fresh lockdowns have had a deeper impact on activity in January amid speculation that restrictions will be extended beyond April. We will likely revise up our GDP forecasts for 2020 and 2021 (-1.7% and 3.8%) but with the recovery in indigenous sectors delayed, pushed into 2022.
Davy research
Davy ResearchAmryt Pharma - Fiscal year 2020 better across the board
Davy ResearchLufthansa - Restructuring and deleveraging will be a long and painful process
Davy ResearchVistry Group - Company makes very strong start to 2021
Davy ResearchMarket comment - Ireland’s unemployment rate steady at 5.8%
Davy ResearchEntain - Enters 2021 with good US momentum
Davy ResearchOrigin Enterprises - Controlling the controllables; cash flow the stand-out
Davy ResearchCairn Homes - FY results in line with guidance; no material changes likely to forecasts