The Irish economy is on the verge of recovery. The easing of restrictions in the coming months, combined with the existing strong momentum, will lead to a growth spurt. It’s impossible to know how long this will last, but for now Irish consumers are ready to spend. And many of them have the money to do so.
Growth during the pandemic has muddled expectations. It’s best to ignore Ireland’s GDP figures, which are likely to have risen 14 to 15 per cent over the past year, but a look at more reliable measures points to a 5 or 6 per cent growth rate in the domestic economy in 2021, a strong performance in every way year let alone one when there was a pandemic.