Macroeconomics

Macroeconomic research aims to improve understanding of economic growth, the property market and the relationship between the macroeconomy and the financial sector. A major feature of macroeconomic research at the ESRI is the development and maintenance of a suite of economic models, including COSMO (COreStructuralMOdel).

Shared Island research highlights potential for growing services trade

This report examines the extent of cross-border trade in services on the island of Ireland and the characteristics of the firms participating in this trade. The main services traded include transportation and storage, business services and computer consultancy. The report aims to fill an information gap on the extent and structure of services trade where data is much more limited compared to the detailed information available on goods trade.

Export sector driving strong economic growth, however, challenges ahead with greater inflationary pressures, tight labour markets and rising interest rates

Despite significant challenges in the global economy, Irish economic growth is set to continue in 2022, largely driven by a strong export sector. We now believe that Irish GDP will grow by 6.8 per cent in 2022, with the equivalent measure rising by 4.8 per cent next year. Modified domestic demand (MDD) is set to increase by a slower pace than previously expected; we now expect growth of 4.4 per cent in the present year and 3.7 per cent in 2023, compared to 5.0 per cent and 4.5 per cent in the previous Commentary.

Economic forecasts

The ESRI has produced a number of economic forecasts, including the Quarterly Economic Commentaries, Ireland's Economic Outlook and the Medium-Term Reviews.