Davy revises down forecast for Irish economy, cites ‘volatile’ data on exports

The stockbrokers is forecasting a 1.5 per cent price growth for the year

Consumer spending is expected to grow

Stock brokers Davy has revised down its forecast for the Irish economy this year on the back of “volatile data relating to exports and the multinational sector”.

The stockbrokers forecast for Irish gross domestic product (GDP) growth is now 5.5 per cent in 2023, down from a previous forecast of 6.9 per cent. A main driver for this 5.5 per cent growth figure is the view that recent weak export data is likely to be ...