The most recent results from the Central Statistics Office are in relation to Quarter 2,2016. They show GDP growth of 4.3% over the past 12 months and GNP growth of 4.4%, a very strong performance for the Irish economy.
Personal consumption expenditure rose by 2.1% in the same time period. In terms of the value of exports this increased by a phenomenal 9.9% over the past 12 months. Also, the number in employment increased by 2.9% whereas the unemployment rate decreased by 16.3%.
Good news for consumers also as the Consumer price index fell slightly over the past 12 months. However, the Residential property price index rose by a whopping 6.3% and the number of dwellings completed rose by 9.8%.
In essence, all the main economic indicators point to a buoyant, confident, growing economy. However, it is imperative that we plan for the next few years taking into close consideration both the threats and opportunities that will arise as a result of Brexit and the new presidency of the United States of America. To date, Ireland has “boxed clever” in packaging and selling our unique selling points(USP’s) to an international audience. Perhaps now is the time to review the packaging of our USP’s in light of the new global reality in terms of our biggest trading partners?