Economy expected to grow in 'robust fashion' into 2025Muireann DuffyThe Irish economy is expected to grow "in a robust fashion" in 2024 and 2025, according to the ESRI. In its latest quarter economic commentary, the institute says headline and underlying indicators suggest the economy will perform well over the coming months, driven by a "better-than-expected international outlook and robust domestic growth". Modified domestic demand (MDD), which is a measure of domestic economic activity, is expected to grow by 2.2 per cent this year, and 2.5 per cent in 2025, prompted by an increase in real income of an estimated 3 per cent. The commentary also describes the issue of 'capacity constraints' as "critical", noting: "Recent data from the Housing Commission suggest an upward revision in house supply targets will be needed to cater for demographic demand for housing". The ESRI acknowledges that while housing supply is on an "upward trajectory", the pace at which housing is being delivered must increase in order to meet demand.

Source: Irish Independent June 27, 2024 13:36 UTC