“Solid growth subject to substantial uncertainty”, says EU’s economic forecast for Ireland
The European Commission’s report, Autumn 2019 Economic Forecast, has predicted an increase in Ireland’s growth forecast for this year but warns that uncertainty over Brexit and corporate tax revenue might have an impact on it. The report states that GDP growth is set to moderate amid a weakening external environment, while underlying economic activity is expected to remain strong, driven by household consumption and investment in construction. GDP in Ireland grew by 6.6% year-on-year in the first half of 2019, well above the euro area average, and is expected to moderate down to 3.2% in 2021.