Quarterly Bulletin No.2 2022

Read our latest assessment of the Irish and euro area economies in our latest Quarterly Bulletin.

Quarterly Bulletin was published on 6 April 2022.

Quarterly Bulletin Q2 2022 | pdf 2460 KB Quarterly Bulletin No.2 2022

The economy overall was in a good position in the opening months of 2022. However, the Russian invasion of Ukraine has sparked a chain of events that presents significant challenges to the outlook for inflation and growth. There is now a central outlook for slower than previously expected, but still positive economic growth, and markedly higher inflation over the short term. Uncertainty around the outlook has also increased as a result of the conflict, compared with the situation at the time of the last Bulletin in January. While the economic recovery from the most acute effects of the COVID-19 pandemic has been robust, the path to a permanently less disruptive existence with the virus has been complicated by recent developments.   

Read this chapter in full: The Irish Economy.

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While the central forecasts take into account the latest available information on energy and other key assumptions, the situation is highly uncertain and, in particular, energy prices have been extremely volatile in recent weeks.

Read in full: Benchmarking the Uncertainty Around the Central Forecast

 

Since the Russian invasion of Ukraine in late February, the outlook for the global economy has deteriorated, particularly so in Europe.

Read in full: The International Economic Outlook

This Box provides an update, based on the latest data, on some of the key trends relating to the spending, savings and borrowing activities of Irish households and businesses.

Read in full: Spending, Credit, and Deposits: An Update on Irish Household and Business Activity

Inflation in Ireland is currently well above its pre-pandemic level. High inflation has implications for the public finances by affecting government revenue, spending decisions and debt.

Read in full: Fiscal Policy in a High Inflation Environment

Supplementary Data

 

QB2 2022 - Data Appendix | xls 45 KB QB2 2022 - Chart Pack | xls 1578 KB QB2 2022 - Box Chart Pack | xls 454 KB Transcript of media briefing with Director of Economics and Statistics - Quarterly Bulletin No. 2 2022 | pdf 526 KB