Economy

Domestic economic outlook revised down

The government on Tuesday published its annual stability programme update (SPU) which sets out the economic and fiscal parameters for the year ahead

Darragh O'Brien, the housing minister, with Michael McGrath, the finance minister. Picture: RollingNews.ie

Consumer spending is forecast to grow by 2.4 per cent this year with the economy set to continue performing “reasonably” well as inflation continues to ease.

Modified Domestic Demand (MDD) – a measure of the domestic economy – however is now expected to increase by just 1.9 per cent this year, a downward revision from 2.2 per cent in the department’s autumn forecasts.

The government on Tuesday published its annual stability programme update (SPU) which ...