Domestic consumption and demand are also set to rebound.
The economy is set to grow by over 11 per cent in 2021, according to latest forecasts from the ESRI.
The think-tank says domestic consumption and demand are also set to rebound as restrictions ease and the vaccination rollout continues at its current pace.
Today we publish our latest Quarterly Economic Commentary. Assuming continued easing of public restrictions and planned vaccine roll out, we expect GDP to increase growth by just over 11% in the present year.
— Economic and Social Research Institute (ESRI) (@ESRIDublin) June 24, 2021
Read our press release for more information: https://t.co/qETLlhzLic pic.twitter.com/MTlPBnF8fq
Unemployment rates expected to fall to around 9 per cent this year, and dropping to 7 per cent in 2022.
Senior Research Officer with the ESRI, Conor O'Toole, says the significant growth in the economy can be put down to the performance in trade:
Conor O'Toole says the easing of restrictions and the vaccine rollout should help improve consumer spending also:
Do you want a breakdown of our latest 'Quarterly Economic Commentary' from two of the report's authors? Watch Conor O'Toole and Kieran McQuinn present the report findings on our YouTube channel: https://t.co/V1c6ZbwSSi
— Economic and Social Research Institute (ESRI) (@ESRIDublin) June 24, 2021
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