Austin Hughes: Some welcome respite for Irish consumers and firms 

Although the cost surge of the past couple of years is unlikely to fully reverse, an expected easing in inflation will markedly improve the purchasing power of most Irish households and enhance the sustainability of Irish businesses

Austin Hughes says a likely fall of around 2% in Irish GDP is not without significance. 

Another strange and challenging year for the Irish economy appears to be ending on a generally positive note with employment growing, inflation easing, and signs that incomes will rise and borrowing costs will fall in 2024.

This year has been another strange year in many ways. A move into recession signalled by the prospect of the first material full year drop in GDP since 2009, and only the fourth decline in the past 30 years, might suggest a return to the bad old days of the financial crisis.