Central Bank of Ireland Quarterly Bulletin: Q3 2025 projects moderate growth amid US tariffs (centralbank.ie)

• MDD growth revised up to 2.9% for 2025
• Underlying budget deficit to worsen to 3.7% of GNI* by 2027
• Housing completions forecast at 32,500 (2025), 36,000 (2026), 40,000 (2027)

"The Central Bank of Ireland published its third Quarterly Bulletin of 2025 on 18 September. Modified Domestic Demand (MDD) grew 3.8% in H1 2025 year-on-year, employment rose 2.8%. The MDD forecast for 2025 was revised up to 2.9%, with 2.2% and 2.4% for 2026 and 2027. The underlying budget deficit is projected to widen to -3.7% of GNI* by 2027. Housing completions forecast: 32,500 (2025), 36,000 (2026), 40,000 (2027). Risks include US tariffs, infrastructure bottlenecks, and narrow tax base."