Irish Growth Forecasts Slashed Again Amid Cost-of-Living Squeeze and Global Slowdown
- ESRI cuts Irish economic growth forecasts again due to cost-of-living crisis and global slowdown
- Irish modified domestic demand now expected to grow just 0.6% in 2022
- GDP set to contract by 2.7% in 2022 before rebounding 2.3% in 2023
- Slowdown driven by fall in investment and exports by multinationals
- Concerns raised about government overshooting its own spending rules