Bank of Ireland revises upwards its 2025 GDP projections to growth of 4.3 per cent
Donald Trump: his threat to impose blanket tariffs on goods imported into the US is among the key risks to the Irish economy in 2025. Photograph: Kenny Holston/The New York Times
The bank said it was revising upwards its projections for GDP to growth of 4.3 per cent, with modified domestic demand of 4 per cent and a 2.2 per cent growth in employment for the year, up from 1.7 per cent previously. The revision follows a 3.5 per cent bounce in the economy in the third quarter of 2024, which had shown a contraction in five of the previous six quarters, with growth across both the multinational and indigenous sector.
Export growth is expected to be 3.4 per cent in 2025 and 5 per cent in 2026. There were concerns about rocky trade relations, with the threat of tariffs from the Trump administration looming over the EU. The report said Ireland should escape the worst of the impact though, should a trade war erupt with the US.
There was little cheer for house-hunters however, with property prices expected to grow by 5 per cent in 2025. The bank predicted more than 42,000 housing completions this year. Non-residential construction may be set for a fifth year of contraction.
Donald-Trump Conall-Mac-Coille
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hundreds take part in Dublin vigil to show support for Palestinian journalistsMembers of Irish press gather for Irish Palestine Solidarity Campaign’s New Year’s Eve vigil
Read more »
Here's What Team STELLAR Is Loving This WeekSTELLAR Magazine, Irish Fashion, Irish Women's Magazine, Irish Beauty, shops in Ireland, celebrity news, glossy magazine, Fade Street, make-up tips, Irish style, Vip Magazine Group
Read more »
Here's What Team STELLAR Is Loving This WeekSTELLAR Magazine, Irish Fashion, Irish Women's Magazine, Irish Beauty, shops in Ireland, celebrity news, glossy magazine, Fade Street, make-up tips, Irish style, Vip Magazine Group
Read more »
5 Lip Balms To Get You Through The Cold SpellSTELLAR Magazine, Irish Fashion, Irish Women's Magazine, Irish Beauty, shops in Ireland, celebrity news, glossy magazine, Fade Street, make-up tips, Irish style, Vip Magazine Group
Read more »
Irish House Prices Surge, First-Time Buyers Face Higher CostsProperty prices in Ireland continue to climb, reaching record highs in the third quarter of 2023. The average mortgage loan for a house purchase exceeded €300,000 for the first time, while the median asking price for properties listed on MyHome reached €365,000. First-time buyers are spending 28% of their after-tax income on mortgages and are getting older, highlighting the increasing challenges faced in the Irish housing market.
Read more »
The Medieval Irish Kings and the English Invasion Review: Insightful History from an Irish PerspectiveThis comprehensive review explores Seán Ó Hoireabhárd's groundbreaking work, \u201cThe Medieval Irish Kings and the English Invasion.\u201d The book offers a fresh perspective on the period, centering on the experiences and motivations of the Irish political elite during the English invasion. The review highlights the book's strengths, including its meticulous scholarship, insightful analysis, and focus on post-colonial history. It also acknowledges minor weaknesses, such as the lack of detailed place identifications and the omission of a genealogy for Diarmait Mac Murchada.
Read more »