Wednesday October 21, 2020

ESRI revises up its growth forecast as exports do well despite lockdown

A strong performance by pharma and computer exports has somewhat mitigated the devastation of job losses in other sectors, according to a new report

7th October, 2020
Exports have held up well during the pandemic, driven by the strong performance of medicinal and pharmaceutical products and computer services

Exports have performed well during Covid-19 which has led to a more optimistic outlook for GDP, a new report by the Economic and Social Research Institute (ESRI) shows.

The report outlines how the pandemic has had a devastating effect on job losses in other areas, however, including accommodation, food, arts and entertainment, with the unemployment rate at 14.7 per cent in September.

Household spending and modified investment declined by 22 and 24 per...

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