General Industry News

EY increases forecast for Irish economic growth

Irish Times – 17.06.2019

One of the “big four” professional services firms has increased its growth forecast for the State’s economy in light of strong corporate tax receipts and the increase in new jobs.  EY revised its gross domestic product (GDP) growth forecast for the State slightly upwards to 4.1 per cent in 2019 on the back of positive data in the first three months of the year. EY forecasts growth in job-creation to slow from 2.8 per cent this year to 1.8 per cent in 2020 and 1.6 per cent in 2021.

Irish economy caught between overheating and Brexit slowdown, Chief Economist warns

Irish Times – 14.06.2019

The Irish economy is on a knife-edge, poised between “overheating” and a major Brexit-related downturn, the State’s Chief Economist has warned.  John McCarthy described the situation as “extraordinarily complex” and uncertain, saying it made forming budgetary policy extremely difficult.  He said overheating could transform rapidly into “underheating” as a result of a cyclical downturn internationally, made worse by Brexit and trade tensions between the US and China.

Shannon Expects Passenger Number drop due to suspension of Norwegian Flights

Hospitality Ireland – 13.06.2019

Following the news that Norwegian Air has suspended flights to and from Cork and Shannon Airports for the rest of 2019, a spokesperson for Shannon Group has said, "Shannon Airport is disappointed for its passengers with the news that as a result of the continued grounding of the Boeing 737 Max aircraft, Norwegian will be unable to operate a Shannon service for the reminder of the year”.