Irish Economy Insight in 2016 – Unemployment Rate and Ireland GDP Growth Rate

Source: Irish Times

Irish Economy Insight in 2016 – Unemployment Rate and Ireland GDP Growth Rate

The Central Bank has forecast that Irish economy will grow at close to 5 per cent in 2016, adding a “convincing recovery” is well-established on the domestic side of the economy. The bank, concerned about external risks to the recovery, also forecasts a continuation of strong growth in 2017 but at a slightly slower rate. While the forecast represented the bank’s assessment of what would happen on the current information, chief economist Gabriel Fagan said there were many uncertainties. Downside risks were linked to China but not only to it, he said.

When it comes to economy, it’s always correlated with unemployment rate and GDP growth rate. How does the Irish economy in 2016. You may want to check the original report published on tradingeconomics.com below.

source: tradingeconomics.com

Irish seasonally adjusted unemployment rate was recorded at 8.8 percent in February 2016, down from 8.9 percent in January and 10.0 percent a year earlier. The jobless rate fell to its lowest level since December of 2008, as number of unemployed persons decreased. Unemployment Rate in Ireland averaged 10.94 percent from 1983 until 2016, reaching an all time high of 17.30 percent in December of 1985 and a record low of 3.70 percent in December of 2000. Unemployment Rate in Ireland is reported by the Central Statistics Office Ireland.

In Ireland, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force. This page provides the latest reported value for – Ireland Unemployment Rate – plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Ireland Unemployment Rate – actual data, historical chart and calendar of releases – was last updated on March of 2016.

So, how about the Ireland GDP Growth Rate ? Check this article which is originally published on tradingeconomics.com below.

source: tradingeconomics.com

The Irish economy advanced 2.7 percent on the quarter in the three months to December of 2015, following an upwardly revised 1.5 percent expansion in the previous quarter and staying way above market consensus of 0.9 percent. Personal consumption and net exports were the main drivers of growth while capital investment increased at a slower pace. Compared to the same quarter a year earlier, the GDP advanced 9.2 percent hitting the highest value since the first quarter of 2001. Considering full 2015, the economy expanded 7.8 percent. GDP Growth Rate in Ireland averaged 1.13 percent from 1997 until 2015, reaching an all time high of 6.20 percent in the first quarter of 1999 and a record low of -4.10 percent in the fourth quarter of 2008. GDP Growth Rate in Ireland is reported by the Central Statistics Office Ireland.

Irish economy is based on foreign trade, industry and investment. The country is major high-tech manufacturer and is one of the world’s biggest exporters of pharmaceuticals and software. On the expenditure side, household consumption is the main component of GDP and accounts for 44 percent, followed by gross fixed capital formation (19 percent) and government expenditure (17 percent). Net exports adds 19 percent to total GDP as exports account for 114 percent while imports for 95 percent. This page provides – Ireland GDP Growth Rate – actual values, historical data, forecast, chart, statistics, economic calendar and news. Ireland GDP Growth Rate – actual data, historical chart and calendar of releases – was last updated on March of 2016.