Mixed news for Irish economy in latest ESRI report
New ESRI figures out today show a mixed picture on the economic front.
Employment expected to grow 3.1% this year, with the unemployment rate expected to average 6.1%, falling to 5.4% next year.
GDP is forecast to grow at a rate of 3.8% this year and 3.6% next year.
The report states that Brexit continues to pose a substantial risk for the Irish economy, however.
It also warns that taxation revenue growth in 2017 has slowed down considerably as income, corporation and excise duties all took in less revenue than expected.
Report author Kieran McQuinn said: "2017 has seen certain countervailing trends emerge in relation to the overall positive performance of the Irish economy.
"On the positive side, labour market data illustrates that the pace of employment creation and subsequent reduction in unemployment increased in 2017."
Co-author Dr Conor O’Toole said: "Less encouragingly, the state of the public finances and the performance of different taxation headings in particular have been significantly less robust in the present year.
"Apart from VAT receipts, most other tax headings either display weak growth or declines with respect to the same time last year."
