ESRI report reveals Ireland is a land of two economies

Latest figures from the institute show that while we are officially in recession and multinationals are struggling, the domestic economy is proving resilient

Christmas shoppers in Grafton Street, Dublin: the domestic economy has posted growth of 4 per cent to 5 per cent over the last two years. Picture: Fergal Phillips

As we enter the final weeks of 2023, it’s clear the Irish economy has reached an inflection point.

The combined toll of the highest price inflation in 40 years, the rapid hike in interest rates and the ongoing geopolitical turmoil in Europe and the Middle East is finally catching up with it.

In its latest economic outlook, issued last week, the Economic and Social Research Institute (ESRI) gave a downbeat assessment of the current health ...