Ireland’s increasingly remote GDP numbers

Ireland's GDP is no longer an accurate measure of the country's economic conditions due to the dominance of multinational companies and the volatility of their activity, with the economy entering a technical recession despite full employment and increased consumption.

irishtimes.com

Relevant topic timeline:

8/24/2023

Republic of Ireland employment figure hits record high

The employment rate in the Republic of Ireland has reached a record high of 74.2% in the second quarter of this year, indicating strong economic recovery since the pandemic, although the governing coalition faces challenges due to high housing costs.

9/16/2023

Services Sector Slumps Amid High Inflation; Job Market Cools But Optimism Remains for Investments Despite Tough Winter Ahead

The Northern Ireland economy is experiencing signs of weakness, with data showing a contraction in the services sector and a slowdown in retail and hospitality due to inflation and consumer spending constraints. The jobs market is also showing negative trends, with a decrease in employee jobs and an increase in unemployment-related benefits. Overall business activity has fallen for the second consecutive month, indicating potential economic challenges ahead.