Upturn pivots on fickle world outlook

When the global economy collapsed after 2007, it unleashed a massive tsunami that sent the Irish sector into a tailspin. From 2000 onwards, Irish policymakers seemed to have forgotten just how exposed we were to global developments.

The events of 2007 have hopefully hammered home just how important external developments are to an economy, particularly to a small open economy.

All forecasters, both domestic and external, are predicting a good year ahead for the domestic economy.