The Dublin City Region plays a pivitol role in the economy of Ireland. The Dublin Economic Monitor tracks the capital’s performance quarterly to provide insightful data.
Overall retail activity in Dublin remains very positive with year-over-year growth rates rebounding from 2020. Year-on-year online spending growth may not seem impressive at 3.1%, however it is rather extraordinary that growth rates remain in positive territory and are holding on to the extraordinary gains experienced last year.
The economic recovery in Dublin continued in full swing during the third quarter, with rates of expansion in activity, new orders and employment all quickening from Q2. The particularly steep growth rates we’ve seen since the economy reopened will likely prove unsustainable, especially given some of the supply constraints being felt by firms at present, but there’s no reason why companies shouldn’t settle into a solid and sustainable period of expansion as the year comes to an end.
The extreme positive growth rates for overall retail sales were expected as we compare with the Covid-19 related restrictions in 2020. From a sector perspective we are seeing spending rebalance as spending returns to the discretionary sectors that were largely shut down over the past year.