Global tax changes could impact Irish recovery

Near-term prospects for economy are favourable but a close eye needs to be kept on likely changes this year to the global corporate tax regime

Built-up household savings are expected to fuel a rebound in the domestic economy in the second half of this year.

Data coming in on the Irish economy for the opening quarter of 2021 show that the current lockdown is not having as big a negative impact on activity as the first shutdown in the spring of 2020.

All of manufacturing has remained open on this occasion. Part of the construction sector has remained open and is reopening further, meaning that the sector's decline has not been as severe as the collapse seen last year.