Oliver Mangan: Irish economy is bucking global trend by performing well

CSO figures show robust opening quarter despite a dip in spending

The past week saw both the OECD and World Bank make dramatic cuts to their growth forecasts for the world economy for this year, largely on the back of the fallout from the War in Ukraine. 

The Organisation for Co-operation and Development is now projecting global growth of 3% for this year, down from its previous estimate of 4.5%, while the World Bank has cut its 2022 forecast from 4.2% to 2.9%.