‘Fog lifting’ on economic risks as pharma sector weathers global policy uncertainty — report

Goodbody economists say Ireland’s economy is stabilising despite tariffs and policy risks, but warn housing and competitiveness challenges persist

Sunrise at Tivoli at the Port of Cork. A threat to global investment in the pharmaceutical industry in Ireland remains but “the fog is lifting” on the major policy issues that threatened Ireland’s economic model, according to Goodbody’s chief economist. Picture: Larry Cummins

A threat to global investment in Ireland’s pharmaceutical industry remains, but “the fog is lifting” on the major policy issues that have threatened Ireland’s economic model, according to Goodbody Chief Economist Dermot O’Leary.

Mr O’Leary made the comments in Goodbody’s Irish Economic Health Check, published on Wednesday. The report states that after a period of “exceptional policy uncertainty” in the first half of 2025—driven by new tariffs and potential US corporate tax changes—a clearer outlook is emerging.