Economy
ESRI slashes growth forecasts as Irish economy heads for first contraction in more than a decade
GDP is forecast to shrink marginally while the forecasted growth in the domestic economy has been significantly lowered
The Irish economy will contract for the first time in more than a decade this year, according to the Economic and Social Research Institute which has slashed its growth forecast for 2023.
In its latest update on the health of the Irish economy, the think tank said it expects GDP, which is heavily influenced by multinationals, to contract by 1.6 per cent this year.
The ESRI had previously projected GDP growth of 0.1 per cent ...
