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Latest Dublin Economic Monitor shows glimmers of hope for the Capital’s economy

Deep and widespread implications of Covid-19 cause a collapse in Dublin’s economic activity.

Covid-19 shuts down Dublin’s economy and accelerates digitalisation. Latest economic data on the capital.

HIGHLIGHTS

DUBLIN’S UNEMPLOYMENT RATE

increased to 8.2% in Q3 2020, while the number of Pandemic Unemployment Payment recipients rose to over 108,000 at the start of November.

HOSPITALITY IN THE CAPITAL

continued to be severely affected by the Covid-19 pandemic, with restaurant bookings falling to negligible levels in October and November, and hotel occupancy rates falling to below 20%.

BUSINESS ACTIVITY IN DUBLIN

continued to be severely affected by the Covid-19 pandemic, with restaurant bookings falling to negligible levels in October and November, and hotel occupancy rates falling to below 20%.

RETAIL SPENDING

showed a robust recovery in the third quarter, increasing by 6.8% YoY on the back of particularly strong household goods sales.

COMMUTING PATTERNS IN THE CAPITAL

remained depressed through the second half of 2020. Public transport trips were down by 58.2% YoY in Q3 2020, while traffic volumes on Dublin’s main thoroughfares remained down by almost a third in November.

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