Quarterly Economic Outlook Q2 2022
The Irish economy finds itself at an important turning point. Shifts in global capital markets and ongoing higher prices of commodities, such as energy imports, are already undermining the recovery momentum that characterised the first half of the year. Leading indicators and feedback from Ibec members suggest a slowdown is already underway in the growth rate of the two drivers of the domestic economy, consumer spending and investment, and this will continue into 2023.
The outlook for Irish business is marked by growing concern at rapid shifts in our competitive position and growing labour market policy costs being imposed by Government – which will most significantly impact on SMEs. This underlines the importance of controlling what we can here at home. As a society, we must plan for the long-term investments needed to grow our capacity and resilience in housing, energy, infrastructure and skills.
Download the full Ibec Economic Outlook report below.