Warnings consumer spend growth is slowing

Consumer spending may not be as robust as once thought even as employment continues to grow, economists have warned.

They voiced their concerns as official figures published yesterday showed the Irish economy expanded at a slower-than-expected pace in the spring and early summer, once the accounting distortions caused by multinationals that have led to claims of “leprechuan economics” are excluded.

The CSO said GDP grew by 0.6% in the three months to the end of June from the previous three months, and was up 4.1% from the same period in 2015.