Davy: Irish economy to power ahead despite Ukraine war fallout

Broker projects GDP will surge by 8.2% this year, helped by an outsized contribution from the multinationals, with inflation peaking at 8%

'The more important point is that Ireland’s defensive export sector concentrated in pharma, medtech, and technology should continue to perform despite the uncertainty of events in Ukraine.'

The Irish economy will power ahead this year despite consumer inflation pressures peaking in the early summer from the fallout of the Ukraine war, Davy has predicted. 

In new forecasts, the broker projects GDP will surge by 8.2% this year, helped by an outsized contribution from the multinationals, but inflation peaking at 8% in June will weigh on the domestic economy, which will expand at the slower pace of 6%.