Gross domestic product (GDP) is set to grow 10pc this year, according to research from Davy. The research is forecasting an “exceptionally strong” rebound in consumer spending, which it expects to be close to pre-pandemic levels by quarter four this year. Irish residential property price inflation is set to equal 8pc this year, according to the report. Housing completions are forecast to equal 22,000 in 2021 and 26,000 in 2022 – below the levels required to meet demand. The absence of tax increases planned in October’s Budget will support spending into next year, according to the report.

Source: Irish Independent August 09, 2021 08:03 UTC