Economy is strong but quite vulnerable to external shocks - Central Bank review

A Central Bank review shows that while the economy remains strong it is quite vulnerable to external shocks.

The institution's first Macro-Financial Review of 2018 looks at the various factors that could influence the performance of the economy.

It comes just hours after the EU imposed €3bn worth of trade tariffs on US imports in response to a tax on steel and aluminium.

Business journalist Vincent Wall says the review shows our economy and financial system is strong but we need to be mindful of factors beyond our control.

"They (the Central Bank) are staying to their very high growth rate forecast for the Irish economy for this year and next. 4.8% GDP growth this year and 4.2% next year - that's the good news.

"But they are saying the level of external shock - the risk of that is increasing.

"Brexit obviously and the twists and turns in that story, but also because of those trade ripples from [US President] Trump -that's actually increasing the risk to Irish economic growth."

- Digital Desk


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