Dublin Economic Monitor

Dublin's private sector ended 2024 in buoyant fashion with output growth the strongest for a year-and-a-half, and was therefore well set for a positive start to 2025. The expansion was broad based in terms of sectors, but particularly strong in the services and construction categories. One word of caution is provided by employment rising only marginally despite the strong increases in new orders and business activity. If growth is to be sustained at an elevated level, firms will need to be able to access sufficiently skilled candidates to expand capacity and support customer needs.

As election season draws to a close, the fortunes of an incoming government will be significantly influenced by the economy. There will be relief then that the economy appears to be in rude health. All sectors of the economy have contributed to solid expansion in Dublin's private sector activity over Q3 of this year and employment in the capital has reached a new peak. All in all, the economy is providing good cheer but the next government's in-tray will have plenty in it to ensure Dublin's economy continues on this path.

Dublin's retail sector continued to grow in Q3. While growth rates softened, this was the 17th consecutive quarter of growth, in spite of high cost of living and inflation levels. The Entertainment sector continued to be a key driver in this regard. Increasing 5.7% YoY, spend in hotels, bars and restaurants remained crucial for the economy, as discretionary and e-commerce spend slowed.