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Growth in domestic demand to weaken next year – Ibec

Consumer spending is expected to increase by 2.3 per cent in 2024 and 3 per cent in 2025

Gerard Brady, Ibec’s head of national policy and chief economist, said the body expected weaker domestic demand in 2024 and 2025

Ibec said it expected weaker domestic demand next year on the back of reduced employment growth and a continued moderation in investment trends.

The business representative body predicted domestic demand would grow by 2.3 per cent in 2024 and 3 per cent in 2025, compared with 3.2 per cent this year.

In its last Quarterly Outlook for 2023, Ibec said Ireland was entering a period of slower growth and business consolidation following a period of ...