Dublin Economic Monitor

As election season draws to a close, the fortunes of an incoming government will be significantly influenced by the economy. There will be relief then that the economy appears to be in rude health. All sectors of the economy have contributed to solid expansion in Dublin's private sector activity over Q3 of this year and employment in the capital has reached a new peak. All in all, the economy is providing good cheer but the next government's in-tray will have plenty in it to ensure Dublin's economy continues on this path.

Dublin's retail sector continued to grow in Q3. While growth rates softened, this was the 17th consecutive quarter of growth, in spite of high cost of living and inflation levels. The Entertainment sector continued to be a key driver in this regard. Increasing 5.7% YoY, spend in hotels, bars and restaurants remained crucial for the economy, as discretionary and e-commerce spend slowed.

The Dublin private sector continued to tick along nicely during the third quarter, as was actually the case across the broader Irish economy as well. The most pleasing aspect of the latest set of results was a renewed rise in manufacturing production, meaning that all of the segments covered by the PMI surveys contributed to the overall expansion for the first time in more than two years. The capital’s private sector is therefore set up well to end the year on a positive note.