ESRI: Irish Economy Set For Robust Recovery.

Thursday, 7 October 2021 10:00

However, it doesn't expect to see the unemployment rate fall back to pre-COVID rates until late 2023 at the earliest.

The Irish economy's set for a 'robust recovery' this year despite the pandemic, according to the ESRI.

The think-tank expects Ireland's GDP to grow by 12.6 per cent this year.

As public health measures are beginning to ease, it anticipates a return to more normal economic activity by December.

The ESRI expect the unemployment rate to fall to 9 per cent in Q4 2021 and average 16.3 for 2021 overall.

It doesn't expect to see the unemployment rate fall back to pre-COVID rates until late 2023 at the earliest.

However research professor with the ESRI, Kieran McQuinn, is warning there are challenges ahead:

Today we publish the latest Quarterly Economic Commentary. Strong exports and multinationals are contributing to double-digit GDP growth. However, there are challenges ahead with housing, climate change, and healthcare. Read the report on our website: https://t.co/FaJ1nuwF48 pic.twitter.com/IMv0KqStZE
— Economic and Social Research Institute (ESRI) (@ESRIDublin) October 7, 2021

More from National News

Three Decades Later, Search For Answers In Jo Jo Dullard Case Continues

Audio

Jo Jo was last seen in Moone on November 10th 1995, after missing her bus home and hitching lifts.
EU Environment Commissioner Visits Kildare Farm Ahead Of Nitrates Derogation Talks

Jessika Roswall is in the country to assess how Irish farmers are managing stocking rates and environmental rules, ahead of a crucial EU decision that could see limits tightened further.
Defence Forces Conduct Readiness Exercise At Whitewater Shopping Centre In Newbridge

Previously, the Army's elite Ranger Wing has conducted training at the same location.
Call For Sanitary Bins In Men’s Toilets To Support Prostate Cancer Survivors

Audio

Each year, around 4000 men in Ireland are diagnosed with the disease, with research from PHS and the Irish Cancer Society finding more than half of men with incontinence feel anxious because of poor toilet facilities.
Kfm Strengthens Position As Kildare’s Most Listened-To Station, According To Latest Ipsos/MRBI Report

Kfm CEO Clem Ryan said: “This latest research is a major reflection of the power of local radio, which showcases local issues , and where advertisers reach their target customers in real time."
Quarter Of Uisce Éireann Staff Earned Over €100k Last Year

Audio

Officials from Uisce Eireann are appearing before the Public Accounts Committee, outlining the company’s financial statements for 2024.
Own-Brand Foods Often Produced By Same Factories As Big Labels, Says Money Doctor John Lowe

Choosing own-brand products can also save money, with Lowe noting that many supermarket labels are produced by the same manufacturers as well-known brands.
Meath Bird Flu Case Prompts Warning, But Chicken And Turkey Safe To Eat, Says Agriculture Minister

Audio

After confirmed cases in Carlow and Cork, the Department of Agriculture is imposing a mandatory order for all poultry and captive birds to be kept indoors from next Monday.