Irlands Wirtschaft schrumpfte erst zum ersten Mal seit 2023

Now watch FFG become all of a sudden concerned with cost of living.

We’re probably due a slowdown. Economy is unsustainably hot right now imo – as evidenced by the crazy prices and corresponding demand for everything.

I don’t want one, but I think it’s inevitable.

Everyone knows that GDP in Ireland has a weak link to the state of the actual economy. A 1% drop is about as meaningful as the 7.4% increase in the previous quarter.

Absent other data to the contrary, Ireland’s economy didn’t shrink, just like it didn’t grow 7.4% last quarter. Ireland’s GDP shrank, and GDP is not the economy.

Do people think that civil engineers will be as badly impacted this time if there is another recession?

I know the industry is intrinsically tied to the economy, but it’s a different environment currently to what it was in 2007, where if we continue to neglect infrastructure (housing/energy), it will cause further economic stagnation.

From the article

„Ireland’s role as a tax base for US multinationals can lead to huge swings between growth or contraction that sometimes influence the overall result for the region. Despite being one of the euro zone’s smaller economies, its data have recently had an out-sized effect on expansion when the bloc itself has largely stagnated.
The numbers could potentially undermine expectations of forecasters that the euro zone stagnated in the quarter. The median estimate is for a flat outcome, down from 0.6% growth in the three months through March. Those data will be released on Wednesday along with figures from the currency area’s biggest economies.
Last week, Ireland got a reminder of the precarious nature of its huge dependence on foreign direct investment, when Amazon.com Inc. scrapped plans for a new facility in Dublin. That will add to government concerns about the reliability of its corporate tax revenue, particularly as Trump and his officials have repeatedly singled out Ireland, saying it runs a surplus at America’s expense.“

The well to do on Reddit will always say we are shielded from economic crashes. They are insulated from the hardships of the economy from the high wages. Remember nothing on Reddit reflects the real world. I agree on the point on GNI and I sat down and had a read on how it differs from GNP and in a quick opinion it’s a good indication we are going fine. Yet that is just it, we are doing ok but it’s what is beneath the surface that we should be cautious about. As per the Bloomberg article we are at the mercy of the whims of a big orange tanned geebag who risks turning us and the rest of Europe upside down with his tarrifs and we still have not ring proofed pharma as an industry to be protected. There is a chance of recession and there are those then who want that as it might mean a house or lower cost of living but at that price…,job losses, homelessness. This whole thing is a balancing act

No it didn’t „shrink“, it expanded massively last quarter due to stockpiling that skyrocketed our pharma exports. So due to that, exports were slower this quarter because everything was already pre-bought/ shipped months ago.

This caused the economy to grow +9.7% and correct -1%, so a net 8.7% increase for the 2 quarters. How are people talking about slowdowns lmao

GDP isnt important….until it shrinks then the doomsday folks come out to gloat

After the Trump ‚deal‘ it’s about to shrink a lot more 😵‍💫